BABA Alibaba Group Holding Limited

By Andrea Figueras

Alibaba Group Holding aims to invest $2 billion in Turkey, where it plans to build new facilities in Ankara and Istanbul, the company's e-commerce unit Trendyol said Monday.

The Chinese technology company intends to create a data and logistics center in Ankara and an export-operations center at Istanbul Airport, Trendyol said. The plan was presented at a meeting between Alibaba President Michael Evans and Turkish President Erdogan.

Alibaba, through Trendyol, has invested $1.4 billion to date in Turkey, which Evans sees has the potential to become one of the world's leading electronics export countries, Trendyol said.

Write to Andrea Figueras at andrea.figueras@wsj.com

(END) Dow Jones Newswires

September 18, 2023 05:35 ET (09:35 GMT)

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