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English
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Evet (Yes)
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Hayır (No)
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05.05.2023
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Hayır (No)
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Under the Presidential Decree dated November 24, 2023 and numbered 7885 published in the Official Gazette dated November 25, 2023, it has been decided to grant project-based government aid, incentive, to the production facility investment in İzmir, in relation to the pyrolysis oil production from Naphtha substitute recycling, to be realized by our Company's subsidiary Biotrend İleri Dönüşüm ve Yenilenebilir Enerji Teknolojileri Sanayi A.Ş. This in vestment with a projected total fixed amount of TL 9.181.700.000 is expected to be completed in 3 years starting from 1 March, 2023 in accordance with the provisions of the Decision on Granting State Aid to Investments on Project Basis. For once, additional duration may be granted by Ministry of Industry and Technology of Republic of Turkey for the completion of this investment. The support provided for this investment is comprised of the following: - Customs duty exemption, - VAT exemption - VAT refund, - Tax reduction (tax reduction rate: 100%, investment contribution rate: 60%, investment contribution amount that may be used during investment period: 100%), - Insurance premium employer share support (for 5 years with no maximum monetary limit), - Qualified personnel support (maximum TL 100.000.000), and - Investment location allocation. The relevant developments with respect to the process related to the issuance of investment incentive certificate and the current affairs of our investment shall be disclosed to our investors. The Official Gazette in which the Presidential Decree regarding such incentive is published is attached hereto. English translation of this disclosure is attached hereto. In contradiction between the Turkish and English versions of this disclosure, the Turkish version shall prevail.
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