Investment incentive for Cengiz Holding
Project-based state aid will be provided for the investment in the production facility for hot and/or cold rolled aluminum flat products to be manufactured by Eti Aluminum AŞ in Konya using the direct chill slab casting method.
The Presidential Decree on the matter entered into force after being published in the Official Gazette.
Consequently, the duration of said investment was determined at 5 years.
If the investment cannot be made within the stipulated term, the Ministry of Industry and Technology may grant an additional term of up to half of said term.
100 PERCENT TAX DISCOUNT
The projected fixed investment amount of the project, which began on December 1 last year, was determined at 3,100,545,522 liras. The additional employment expected by the investment was 285, and the expected number of qualified personnel was 45.
At the end of the investment period, it is expected to produce 100 thousand tons of hot and/or cold rolled aluminum flat products per year.
Investment project, customs duty exemption (100% tax reduction rate, 85% investment contribution rate, 100% investment contribution rate that can be used in the investment period), VAT exemption , VAT rebate, tax reduction, insurance premium, employer support (10 years with no maximum amount limit), skilled personnel support (maximum 75 million TL), energy support (50 percent of the energy consumption expenses, not to exceed TL 200 million for up to 10 years from the date of transition to operation).
5 YEARS TO BE APPLIED
The support for qualified personnel will be applied for 5 years, without exceeding 20 times the monthly gross amount of the minimum salary for each qualified personnel.
The energy support will be maintained until the maximum amount of support is reached, as long as the rate and time determined in the resolution are not exceeded, starting the month following the month in which the Ministry determines that it is partially operational or the completion visa. from the investment. It’s done.
Upon completion of the investment, the company will apply to the Ministry for a completion visa.
The provisions of the resolution will be executed by the Minister of Industry and Technology. (AA)