Alibaba Group (NYSE:BABA) Holding Limited president Michael Evans has told Turkey’s President Tayyip Erdogan the Chinese e-commerce giant plans to invest $2 billion in Turkey, Reuters reported.
Evans noted the new investments include a data centre and a logistics centre in Ankara and an export operation centre at Istanbul Airport.
No timeline was revealed for the investment.
Alibaba has already invested $1.4 billion in Turkey through its 76.1% owned Trendyol unit, one of Turkey’s best known e-commerce platforms, according to a company statement.
Turkey’s total e-commerce volume surged 109% last year to over 800 billion liras, with almost a fifth of all shopping done online, the country’s Trade Ministry data showed.
Erdogan is currently in the US to attend the 78th session of the U.N. General Assembly.
NYSE-listed shares of Alibaba have fallen 5% year to date.
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