Colossal Support from the State for Sasa Polyester's Fiber Investment

According to the disclosure, it was stated that the investment amount subject to the incentive is 8,094,028,599 TL.

The company's disclosure to KAP is as follows:

Our Fiber Production Facility Investment with a capacity of 402,500 tons/year, and with an investment cost of approximately 400,000,000 USD, the details of which were previously announced by our company on the Public Disclosure Platform, and which is under construction in our Adana campus and expected to be commissioned in the third quarter of 2024, has been entitled to receive an incentive certificate within the scope of the Decision On State Grants in Investments No. 2012/3305.

The investment amount subject to the incentive is 8,094,028,599 TL and the incentive elements that the investment will benefit from are as follows.

a) Customs Duty Exemption,

b) VAT Exception,

c) Corporate Tax Reduction (tax reduction rate: 80%, investment contribution rate: 40%)

ç) Insurance Premium Employer Share Support (7 years).

d) Interest Support (it will be applied as 5 points for TL loan/profit share and as 2 points for foreign currency or foreign currency indexed loan/dividend profit).

Source of News: dunya.com

Link to the News: https://www.dunya.com/sirketler/sasa-polyesterin-elyaf-yatirimina-devletten-dev-destek-haberi-704767