Turkey to invest USD 110 bln in logistic projects

ANKARA, Turkey’s Transport and Infrastructure Minister Mehmet Cahit Turhan unveiled on Wednesday a package of mega logistic projects costing up to USD 110 billion.

The planned infrastructure projects aim to rise the value of the country’s exports to USD one trillion in the coming years, Anadolu Agency quoted the minister as saying in a press release.

Turkey plans to attract as many trade routes as possible, including the Chinese Belt and Road Initiative (BRI) which will link China to Europe, he said, noting that the Chinese government will pump USD 1.3 trillion in this project until 2027.

Turkey, thanks to its unique geographical location, is looking forward to pushing the value of its trade with the Far East to USD 100 billion by 2030, Turhan went on.

On November 6, Turkey announced that the first Chinese freight train arrived in Ankara from Xi’an city, northwest China.

The 40-carriage train was on a 11,500 km-long journey to Prague, capital of the Czech Republic, as part of the BRI.

Source: Kuwait News Agency