Astor Secures 1.1 Billion TL Incentive with Ministry of Industry's Approval

Foreks - Astor Enerji (IS:ASTOR) A.Ş., one of the few manufacturers of transformer and switching products in Turkey and globally, has received a total investment incentive of 1.1 billion TL for the establishment of a state-of-the-art production facility, approved by the Ministry of Industry and Technology of Turkey. The factory, which will be brought to life with this incentive, will have a closed area of 82,000 square meters and will increase capacity in switching products, power transformer groups, and distribution transformers.

Astor Enerji continues to strengthen its leading position in the industry by receiving significant incentives for the establishment of a state-of-the-art production facility. The new factory will be equipped with advanced manufacturing technologies for the production of switching products, which are critical components of the electrical and energy sector. The production of copper and aluminum insulation materials will enhance the use of local resources, providing cost savings and efficiency improvements. Additionally, the facility will also produce inverters, which are an indispensable part of energy efficiency and renewable energy systems. With this investment, Astor Enerji will continue to add value to Turkey's energy sector by supporting sustainable growth in both local and global markets.

Dr. Fatih Işık, Deputy General Manager responsible for Investment and Technical Services at Astor Enerji, stated: “As a leading brand in Turkey's energy sector, we continue our innovative and advanced technology-based investments. The 1.1 billion TL incentive approved by the Ministry of Industry and Technology is significant not only for our company but also for strengthening our country’s energy infrastructure and, furthermore, for energy exports. With this investment, we will continue to enhance our competitive position in both local and global markets, providing added value to the sector and the national economy.”