Super incentive to manufacture rail system vehicles

Giant projects to be awarded Project Based State Aid were published in the Official Gazette this morning. It was decided to grant state aid to 4 investments.

State support will be provided by BMC Automotive for the investments of Various Rail System Vehicles Production Facility with a fixed investment amount of 571,5 million TL and a production of Diesel Engine, Transmission and Subsystems with a fixed investment amount of 585 million TL in Sakarya, Karasu district.

The President's Decision regarding the issue was published in the Official Gazette and entered into force.

Accordingly, the duration of the investment in question was foreseen as 1 years from the date of commencement of June 2017, 7. If the investment cannot be completed within this period, the Ministry of Industry and Technology will be able to give half of the additional period.

The total fixed investment amount for the project was determined as 571 million 500 thousand pounds, additional employment 500 and qualified personnel number was 24. 250 team locomotives, wagons and subsystems are planned to be produced at the end of the investment period.

Investment, VAT exemption, Customs Duty exemption, VAT rebate, Corporate Tax deduction, insurance premium employer's share and income tax withholding support, qualified personnel support, interest support or profit share support will be provided. Energy support will also be provided.

After the completion of the investment, the company will apply to the Ministry of Industry and Technology. After completion of the appraisal process, a visa will be issued by the Ministry.

The investment incentive certificate will be issued following the notification of the necessary information and documents to the Ministry of Industry and Technology.

In addition, Tusaş-Türk Havacılık ve Uzay Sanayi A.Ş. Bosch Sanayi ve Ticaret A.Ş. with the investment of National Combat Aircraft Production Facility with a fixed investment of 5,66 billion TL to be made in Ankara by Ankara. New Generation High Pressure Gasoline Injector Production Facility investments with a fixed investment amount of 1,24 billion TL to be made by Bursa will also be provided.

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