WEST KIPAŞ PAPER OPENING WAS HELD

2022-01-20 08:14:47

Kipaş Holding’s subsidiary Kipaş Kağıt İşlemeleri has joined Batı Kipaş Kağıt, the largest in Turkey and Europe. The opening ceremony, attended by President Recep Tayyip Erdoğan, was also joined by Vice President Fuat Oktay, AK Party Deputy Chairman Binali Yıldırım, Interior Minister Süleyman Soylu, Youth and Sports Minister Mehmet Muharrem Kasapoğlu, Transport and Infrastructure Minister Adil Karaismailoğlu, AK Party Group Deputy Chairman Mahir Ünal, many members of parliament, leading figures from the business world, members of the press, and Kipaş employees.

In his opening speech, Kipaş Holding Chairman of the Board Mehmet Hanefi Öksüz said: “This is a facility that will produce paper, especially those that Turkey currently imports. Therefore, it has earned the right to receive a strategic investment certificate. We will produce here the $250 million worth of paper products Turkey imports and will export an equal amount, contributing $450–500 million to our current account deficit. Our total project cost is $1 billion. Just as we laid the foundation, the pandemic started in our country. During the pandemic, as Kipaş Group, not only did we not reduce our employment numbers, but we increased employment and continued investing.”

President Recep Tayyip Erdoğan stated in his speech: “I thank the institutions and our holding that brought the largest production facility in Turkey and Europe to our country. This facility will meet a great need in the paper sector of our country. The trial productions of the first phase of this investment have started. Approximately $550 million will be invested in this first phase, employing 800 people. This facility will achieve $200 million in exports and will close the current account deficit by $450 million. The second phase investments are progressing rapidly. For the second phase, which is 40% complete, a $450 million investment will be made. Thus, 1,400 people will bring bread home. Besides economic contributions, this factory will operate with an environmentally friendly production approach. It will produce from 100% recycled waste paper with state-of-the-art machinery. It will contribute to employment, production, and the country’s economy.”