Volkswagen to decide on Turkey plant by mid-year

German automotive giant Volkswagen is again postponing its decision on a 1.3 billion-euro ($1.4 billion) plant in Turkey, after previously halting plans for the plant citing the violence caused by the Turkey’s offensive in northeast Syria, Reuters reported on Tuesday.

“We still have time and can certainly do that (decision) by mid-year,” Reuters quoted a source familiar with discussions as saying.

Volkswagen last year put its Turkey project on hold against the background of the Turkish military offensive in Syria, which was met with international condemnation.

Talks between the German car producer and Turkey for the establishment of a new production unit in Turkey had been at their final stages.

The company said in December it would likely decide on the investment in February.

https://www.reuters.com/article/volkswagen-turkey-plant/volkswagen-has-until-mid-year-to-decide-on-turkey-plant-source-idUSL8N2AI2O4