Globtec Investment LLC to invest additional US $300 million in Turkey

Date:12-02-2022

A leading global investor in innovative infrastructure and green energy projects, Globtec has confirmed an additional multi-million-dollar investment in the Turkish food industry. Globtec has been active in Turkey since 2012, giving it a unique insight into the geopolitical and economic importance of the country.

The addition of $300 million to its investment program in the region is based on the Principles for Responsible Investment. The funds will be used to strengthen the new food tech and green tech industries in Turkey and to contribute to further CO2 reduction in the agricultural and food space.

With these funds, Globtec faces the consequences of Russia's war of aggression against Ukraine, notably the food security crisis and the related economic shock. It will also play a role in the global green transition to address food security, to take care of human health and the health of our planet.

Globtec CEO Murat Karabay said, "It would be a gross mistake to see a new era of self-sufficiency – and an end to globalization – as a result of the war in Ukraine. Many countries are not able to feed themselves. If you cut off international trade, developing countries would be hit the hardest, leading to unprecedented famine. The global trade in agricultural goods and food will continue. Our task as investors is to make sustainability and future-oriented technologies part of the production and supply chains."

Globtec's US $300 million investment will give preference to Turkish farms and manufacturers who have not previously played a role in the global market. This will give them the opportunity to expand their capacities and establish supply chains to the West and developing countries.