Turkish company Baykar invests $100 million in three projects in Ukraine

Turkish company Baykar, which manufactures Bayraktar TB2 drones, is investing $100 million in three projects in Ukraine.

Baykar CEO Haluk Bayraktar said this at the Defence Industries Forum in Kyiv, Ukrinform reports.

"We have three main investments in Ukraine. One of them is a factory. Then we have a service centre, as well as a headquarters office in here... This investment, which is around $100 million, has already started. The construction has already started. It will take about a year and a half to finish it. We plan to employ at least 300 people here," said Haluk Bayraktar.

In his opinion, this production will be self-sufficient, environmentally friendly, and mutually beneficial, as Ukraine has unique engine production technologies, and the Turkish side has drones on which these engines are installed.

"We also have some challenges. The supply chain, sourcing, and development of the human capital because of the effects of the war, and regulatory environment especially the regulations that will support these investments," Bayraktar added.