Washington, D.C.–based Globtec Investment has plans for an additional $300 million investment in the Turkish food industry.
Globtec has been active in Turkey since 2012. The funds will be used to strengthen the new food tech and green tech industries in Turkey and to contribute to further carbon dioxide reduction in the agricultural and food space.
With these funds, Globtec faces the consequences of Russia's war of aggression against Ukraine, notably the food security crisis and the related economic shock, according to a statement. It will also play a role in the global green transition to address food security and take care of human health and the health of the planet.
“It would be a gross mistake to see a new era of self-sufficiency — and an end to globalization — as a result of the war in Ukraine,” said Murat Karabay, Globtec CEO. “Many countries are not able to feed themselves. If you cut off international trade, developing countries would be hit