11:53 - 9.01.2023

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January 9, Fineko/abc.az. Alibaba Group intends to invest more than $1 bn in the construction of a logistics hub and data center in Istanbul and the suburbs of Ankara, ABC.AZ reports, quoting Chinese company’s president John Michael Evans.

He emphasized that the company intends to build a logistics base at Istanbul airport, as well as the largest data processing center in Turkiye with an area of 200,000 sq m, which will be located in Temelli. Alibaba’s president noted that the base in Istanbul can become a key point in the supply chain of goods to Europe and the Middle East. And large-scale investments in Turkish infrastructure will eventually allow Alibaba to significantly increase income.

Alibaba's financial performance by the end of 2022 turned out to be almost the weakest since the IPO in 2014. Thus, revenues of the Chinese technology company at the end of the year increased only by 3% in annual terms, to 207.2 bn yuans ($29.12 bn).