1 Min Read
ISTANBUL, May 23 (Reuters) - Turkish conglomerate Sabanci raised its investment target to more than 5 billion lira ($1.4 billion) in 2017 including an additional 500-700 million lira investment in the energy sector, Sabanci Holding Chief Executive Mehmet Gocmen said on Tuesday.
Speaking at a press conference announcing targets for this year, Gocmen said the company expects double-digit growth in revenue and approximately 15 percent growth in EBITDA in 2017.
In February, the company said it aimed to make investments of 4.5 billion lira till year, end with a large proportion to be dedicated to boosting production capacity. ($1 = 3.5670 liras) (Reporting by Birsen Altayli; Writing by Ezgi Erkoyun; Editing by Dominic Evans)