German carmaker Volkswagen is nearing a decision on building a new plant in Turkey, a board member told reporters in Berlin on Thursday, according to Reuters.
“We are in final talks with Turkey,” said Andreas Tostmann, board member in charge of production, adding he expected the talks to be completed in two weeks, “perhaps earlier.”
Giving more details on the plans, sources close to the company said the multi-brand factory would cost more than 1 billion euros ($1.09 billion).
According to previous reports, the company was mulling between Bulgaria and Turkey for the lucrative investment.