Baykar to invest $100mln in three Ukrainian projects, CEO says
3 Min Read
One of these endeavors includes the development of a drone production facility, with an anticipated completion period of eighteen months.
-
A drone made by Turkish manufacturer Baykar is seen at the International Defense Exhibition and Conference in Abu Dhabi, United Arab Emirates, on Monday, Feb. 20, 2023 (AP Photo/Jon Gambrell)
During the First International Defense Industries Forum in Kiev, Haluk Bayraktar, CEO of Baykar, announced that the Turkish company, known for the Bayraktar TB2 unmanned combat aerial vehicles, is investing $100 million in three Ukrainian projects.
One of these endeavors includes the development of a drone production facility, with an anticipated completion period of eighteen months, as reported by Ukrinform correspondent.
"We have three main investments in Ukraine. One of them is a factory. Then we have a service center and also we have a headquarters office in here. […] This investment, which is around $100 million, has already started. The construction has already started. It will take about one-and-a-half years to finish it. We are targeting a minimum of 300 people to work here. And we have ongoing cooperation," Bayraktar said, adding that this facility will prioritize self-sufficiency, environmental considerations, and mutually beneficial cooperation.
Read more: Saudi Arabia signs strategic localization deal with Turkey's Baykar
Ukraine possesses distinctive engine production technologies, while Turkey specializes in drones where these engines can be integrated.
"We also have some challenges. The supply chain, sourcing, and development of the human capital because of the effects of the war, and regulatory environment especially the regulations that will support these investments," Bayraktar said.
He mentioned that the ongoing conflict has evolved into a battle dominated by unmanned aerial vehicles, and Ukraine possesses certain advantages in this regard, partly attributed to its utilization of diverse aircraft types, despite the inherent challenges.
In such circumstances, receiving input from the military regarding technology deployment is of paramount importance. This is why the Bayraktar drones deployed in Ukraine have been outfitted with a range of distinctive systems.
Read more: Why are Turkey’s Baykar drones so popular?
The CEO of Baykar also conveyed his support for Ukraine.
"We are not here to maximize our revenues or profits. We are here to maximize our support for you. We respect your fight for your freedom and independence, to keep your sovereignty," Bayraktar said.
He indicated that all contributions from Baykar, Ukraine, and Poland have been allocated, primarily for the procurement of radar systems, which have already successfully detected thousands of targets and yielded significant outcomes on the battlefield.
"The total value of these donations is up to $106 million," Bayraktar said, adding that Baykar had undertaken several humanitarian efforts, such as delivering humanitarian aid shipments and arranging a camp for Ukrainian children.
