European firm Airbus is expected to invest around $2.5 billion in Turkey next year, Cahit Turhan, Turkish Transport and Infrastructure Minister said at Kayseri airbase while a ceremony to kick-start retrofit agreement for A400M plane was being held.
"The figure will jump over $5 billion by 2030," Turhan was quoted as saying by local media.
The retrofit could be a part of a deal Airbus signed with a Germany based organization OCCAR this June, for rebaselining of the A400M programme. OCCAR manages multinational programme on behalf of Germany, Turkey, France, United Kingdom, Spain, Belgium and Luxembourg.
The programme includes the plans to create new capabilities of the aircraft, new production and delivery schedules for customers, and reducing down time by better retrofitting facilities.
Presently, Turkey is Airbus’s fourth-largest customer, with some 270 passenger and freighter aircraft in service with nine local operators.
“Airbus also has interests in seven companies in Turkey. Those investments yield concrete results: Every commercial and military Airbus aircraft flying today has parts produced by Turkish suppliers,” Turhan said.
Turkish Airlines placed an order for 84 A321 NEO and 30 A350-900 jets for $20.9 billion. The planes will be delivered in batches until 2024.
In 2017, Airbus and TÜRKSAT signed a contract to develop Türksat 5A and Türksat 5B satellites. The satellites are planned for in-orbit delivery in the first quarters of 2020 and 2021, respectively.