As the German company, Bosch will begin producing a next-generation high-pressure pump in its Bursa plant after an additional investment of 500 million Turkish liras ($75 million), according to a statement made by the Turkish Industry and Technology Minister. The German giant has decided to expand its investments in Turkey’s northwestern Bursa province.
A presidential decree on project-based support of Bosch's latest investment, which is part of its ongoing efforts for the high-pressure fuel injector, was published in the country's Official Gazette last week.
Bosch's existing investment of 1.24 billion Turkish liras ($180 million) in Bursa will increase to 1.74 billion liras ($255 million) with the number of employees reaching 606, up from 314. While the number of qualified employees will increase from 14 to 100 employees.
The facility is expected to produce 900,000 next-generation high-pressure pumps per year and cut down the current account deficit by $85 billion.
The group started its first investment in Turkey through a branch office established in 1910, and its first factory was established in Bursa in 1972.
The Turkish branch of "Bosch" includes five different companies working in the areas of mobility solutions, energy technology, construction, industrial technology and consumer goods.
Last Updated: 4/22/2020 4:04:42 PM