Oyak-Renault’s $115 mln plant’s foundation laid in Turkey to produce engines for hybrid cars
In the plant — worth 100 million euros ($115 million) — aluminum engine block will be produced for the company’s high-tech new generation engines for hybrid vehicles, Turkey’s Industry and Technology Minister Mustafa Varank said in the groundbreaking ceremony in Bursa.
“The plant investment was made under the project-based Incentive System,” Varank noted.
He said the products made in the plant would be exported. “It [the plant] will contribute to employment and exports, it will also reduce the current deficit of Turkey by $2.3 billion annually,” he added.
Within the scope of the engine blocks’ production, necessary parts will be provided by domestic manufacturers and suppliers, Varank stressed.
Nicolas Maure, senior vice president of Renault, said the plant was the first step of the company’s future investment plans in Turkey.
The company renewed its partnership with Oyak for the next 27 years, Maure noted.