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Baykar invests $100 million in Ukraine: How money will be spent

Baykar invests $100 million in Ukraine: How money will be spent Baykar CEO Haluk Bayraktar (screenshot)

The Turkish company Baykar is investing $100 million in three projects in Ukraine. One of them is a drone production plant, according to the State Border Guard Service of Ukraine.

According to Baykar CEO Haluk Bayraktar, one of the investments is a drone production plant, construction of which has already begun. He also added that they plan to complete it in about one and a half years.

As reported by Ukrinform correspondent, the CEO added that the production will be self-sufficient, environmentally friendly, and mutually beneficial since Ukraine has unique engine production technologies, and Türkiye produces drones that use these engines.

"We also face some challenges. This includes the supply chain, searching and development of human capital because of the impact of the war, and the regulatory environment, especially the rules that will support these investments," he noted.

Bayraktar explained that the current war has become a war of drones, and Ukraine has some advantages, using various types of drones.

"We are not here to maximize our income or profits. We are here to support you to the maximum extent. We respect your fight for freedom and independence to keep your sovereignty," Bayraktar emphasized.

Baykar's plant construction in Ukraine

On July 19, 2022, Prime Minister Denys Shmyhal announced the preparation of an agreement with Türkiye that would allow the construction of the Bayraktar drone plant on Ukrainian territory.

In August, Baykar Makina company announced its registration in Ukraine and the purchase of land for the construction of the future plant.

In October 2022, Baykar stated that they would complete the construction of the plant in Ukraine within two years.