Astor Energy Secures Investment Incentive Certificate for New Production Facility Set to Launch in 2025

Foreks - Astor Enerji (IS:ASTOR) has received an investment incentive certificate for its new production facility, which will commence operations in 2025.

According to the announcement, the total fixed investment amount of the incentive certificate is 1,134,275,820 TL, and the certificate's expiration date is 29.08.2027.

The statement made to KAP mentioned: "The incentive certificate application, submitted by our company in accordance with the Cabinet Decision No. 2012/3305 regarding State Aids for Investments, has been approved by the Ministry of Industry and Technology of the Republic of Turkey. The approved certificate, numbered 575771 and dated 31.12.2024, has a total fixed investment amount of 1,134,275,820 TL, and the certificate's expiration date is 29.08.2027.

Under the incentive certificate, exemptions can be applied for the imports of machinery and equipment, as well as the acquisition and/or leasing of software and intangible rights in accordance with Article 13/d of the VAT Law No. 3065. The support amount for the employer's share of the insurance premium will not exceed 35% of the realized fixed investment amount. The interest support is set at 5 points for TL-denominated loans and 2 points for foreign currency and/or foreign currency-indexed loans."