Turkey grants state aid worth millions of liras to bomb manufacturer

Duvar English

President Recep Tayyip Erdoğan has signed a decree foreseeing granting state aid worth millions of liras to bomb and ammunitions manufacturer Assan Group Makine Savunma Sanayi A.Ş.

The decree comes as the ruling Justice and Development Party (AKP) is already under fire for appointing a large portion of its proposed 2022 budget to war and military expenditures. 

According to the decision signed by Erdoğan, reported daily Evrensel, Assan Group will receive support for bombs, bomb casein, and mortar ammunition production in Ankara, Bolu, and Kırıkkale provinces. The company will build new production facilities in these regions which will when realized, presumably provide ammunition and bombs to the state in its ever-expanding domestic and international military campaigns. 

The total amount to be invested in the group over the course of 7 years, according to the decree, is 808,702,814 Turkish lira. Over the course of the investment period, the company is expected to produce 11,200 bombs, 43,770 bomb casings, and 75,000 units of mortar ammunition.

In addition to direct cash support, the company will also receive a number of other financial benefits from the state. The company will receive a 100% tax reduction in the investment period, as well as the allocation of space and qualified personnel for the project.

The company will not have to pay VAT tax for the course of the investment period and will receive VAT refunds. They will also receive support for insurance premiums, and for income tax withholding. The government will also supply up to 80 million Turkish lira in interest and/or rent support.

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