Why it matters: The £45m investment strengthens UK-Turkey trade relations while positioning East Anglia as a major hub for innovative green construction materials in the UK and Northern Europe.
The big picture: Assan Panel, part of Turkey's Kibar Holding industrial group, has been providing sustainable construction solutions since 1990 and exports to over 85 countries worldwide.
The details: A Memorandum of Understanding (MoU) was signed on 5 March in London between Freeport East and Assan Panel to demonstrate their shared commitment to driving green construction in the region.
Under the agreement, Freeport East will help Assan Panel build its UK presence through customer engagement, local supply chains and university links. In return, Assan Panel will help develop a sustainable construction cluster, partly through engagement with Stowmarket's Gateway 14 Skills and Innovation Centre.
By the numbers: The £45m investment will create approximately 100 highly skilled jobs, with the new plant expected to be operational by the end of 2025.
What they're saying: Steve Beel, Chief Executive of Freeport East, said: "Our collaboration with Assan Panel further strengthens the trade ties between the UK and Turkey and opens up further opportunities for bilateral investment between our countries. This agreement is also an important step for Freeport East as we fulfil our vision of becoming a major force in driving sustainable development in the East of England."
Ihsan Tolga Akar, Managing Director of Assan Panel companies, added: "With an investment of £45 million, we will create around 100 highly skilled jobs. Our goal is to have the new plant operational at the end of 2025. Freeport East has chosen advanced building materials as one its core areas, and its vision in sustainability and green energy aligns with our corporate policies as well."
"The East of England has easy access to major European shipping lanes, while Gateway 14 offers a prime location for manufacturing and logistics with its position along the A14 providing easy access to Ipswich, Cambridge and up to the Midlands, as well as to the Port of Felixstowe," Akar said.
For context: The Department for Business and Trade invited Assan Panel to speak at Futurebuild on 5 March, one of the UK's leading events for innovation in the built environment, highlighting the company's expertise in green building solutions.
The bottom line: The partnership aims to provide the infrastructure, expertise, and educational support needed to boost the growth of sustainable construction in the UK, with construction of the new facility at Gateway 14 expected to be completed later this year.
