ISTANBUL: Private Saudi firm Planet Food World (PFWC) will invest around $3 billion in agriculture in Turkey over the next five years to export food products to the Gulf region, the head of its Turkish unit said.
PFWC wants to build 20,000 industrial farms over the next five years, Mete Mutluoglu said in an interview. Each farm is seen at 10,000 square meters and will raise vegetables and fruits as well as having fish, poultry, sheep and cattle-raising facilities.
PFWC’s total land usage in Turkey is seen at 200 square kilometers (78 square miles), he said on Friday.
“This may all be increased, if it is possible. Most of the exports will go to Saudi Arabia and the Arabian Peninsula ... though we would also like to export to Russia and Europe.”
He said turnover from the activities may be in the range of $20 billion in five years for the agricultural goods and could go even higher when additional planned food and animal-processing plants are functioning.