Kaishan, which was established in 1956 in Zhejiang province of China and today operates in 18 countries, will produce compressors to be used in geothermal power plants and export these products worldwide with the factory to be built in İZBAŞ on an area of 20 thousand square metres and costing 1 billion dollars.
Kaishan Group, which is among the world's top 500 energy companies and China's top 100 machinery manufacturers, has seven high-tech subsidiaries. This giant investment will increase the strategic importance of Izmir and make a significant contribution to the regional economy.
IZBAS' Innovative Vision
Eyüp Sevimli, Chairman of the Board of Directors of İZBAŞ, emphasised that the investment is of critical importance not only for the Izmir Free Zone but also for the Turkish economy. Stating that İZBAŞ, which has an occupancy rate of 90%, is selective in new investment negotiations, Sevimli said that infrastructure advantages and access to qualified labour force were effective in Kaishan senior management's preference for the region. Sevimli said, ‘We want to allocate our investment areas to projects with high value-added production processes. İZBAŞ's vision of becoming a clustering centre in renewable energy equipment production was also decisive in this investment decision.’
Türkiye Stands Out in Geothermal Energy Equipment Production
Kaishan Group's investment in İZBAŞ is planned to break ground in the first quarter of 2025 and be completed within a year. Sevimli stated that this large-scale investment will be the largest industrial investment brought to Izmir after the STAR Refinery, which was commissioned in 2018. Sevimli said, ‘Geothermal energy has a comparative advantage among Türkiye's renewable and clean energy sources. Our country has the world's 4th and Europe's leading geothermal resource potential. We believe that Kaishan's investment will play an important role in their strategy to reduce their carbon footprint.’
Kaishan Group: Global Power
Kaishan Group was founded in 1956 in Quzhou, China and today operates in 18 countries with more than 4500 employees. The company consolidated its global strength by establishing production and R&D bases in the USA, acquiring 170-year-old LMF in Austria and SCCA in Australia. It has a strong international presence with operation centres in Melbourne, Poland, Mumbai, Dubai, Ho Chi Minh, Taichung and Hong Kong.
Kaishan's large-scale investment in Türkiye will increase the country's global competitiveness in the energy and machinery manufacturing sector and will make a significant contribution to bringing innovative technologies to the country.
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