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AUSTRIANS TO SET UP IN TURKEY?

7th August 1953, Page 33
7th August 1953
Page 33
Page 33, 7th August 1953 — AUSTRIANS TO SET UP IN TURKEY?
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Which of the following most accurately describes the problem?

IT is reported that three Austrian corn.11. panics have made overtures with a view to setting up a large factory in Izmir, Turkey, to produce oil engines, lorries and tractors. More than half the necessary capital of £T10m. would be supplied by Turkish investors.

An American concern wish to build a similar works at Istanbul; and the Industrial Development Bank of Turkey are taking an interest in this project.