Turkish Tumosan to open tractor factory in Egypt

The factory will cater to the demands of the Egyptian market and serve as an export hub for foreign markets.

The announcement was made during a meeting between Egypt's Minister of Trade and Industry Ahmed Samir and Bulent Polat, a member of Tumosan's Executive Directors Committee.

Tumosan is committed to investing in various projects in Egypt, Polat said, citing the numerous investment opportunities that align with its areas of expertise in the country.
Polat emphasized the company's desire to transfer and localize advanced Turkish industrial technologies to Egypt and other Islamic nations.

Samir highlighted the favourable investment climate in Egypt, adding that Tumosan will benefit from the current incentives offered to investors, such as tax exemptions and the possibility of a land value refund if the project is completed within 18 months of commencing construction.