$1 billion investment in new logistics hub to cater global market

Alibaba Group Holding Ltd will invest more than $1 billion in Turkey for a logistics hub at Istanbul’s airport and a data center near the Turkish capital, said president Michael Evans in a statement. “We have a serious investment plan at Istanbul Airport. From here, we can evaluate e-export plans to Europe, the Middle East and the Far East,” Evans added. Alibaba is targeting Turkey for expansion because of its strong production capacity that could back e-commerce and become part of the company’s supply chain in Europe and the Middle East, Evans said. Expanding commerce and cloud—based units are expected to lift the company’s revenue. Evans, a former Goldman Sachs Group Inc. executive, urged Turkey to improve its e-commerce regulations to address “certain shortcomings to have fair competition.” Along with a logistics hub at Istanbul’s airport, the biggest in the country, the Chinese e-commerce giant plans to build Turkey’s biggest data center in Temelli, near the capital of Ankara. The Alibaba-backed e-commerce platform Trendyol has become Turkey’s largest startup.