The Turkish company Axsa Composites, specializing in producing composite materials for the aerospace industry, has announced a $5 million investment in Tunisia. This project, set to commence operations in 2028, involves developing activities related to manufacturing specialized composite components for the aerospace sector. This marks Axsa Composites' first venture in Africa. The investment is equivalent to approximately 14.7 million Tunisian dinars.
The project involves leasing an industrial unit at the technological pole in Birger Cedria. The Tunisian Aerospace and Space Industries Group stated that the project's significance extends beyond the investment amount, as it includes technology transfer, development of local skills, and enhancing Tunisia's position within international value chains for advanced materials and aerospace industries.
The new industrial site in Birger Cedria is expected to serve as a launchpad for developing industrial activities in Tunisia, with plans for gradual expansion. The Axsa Composites project aims to create a specialized industrial base in the country. This investment is seen as a strategic move to boost Tunisia's aerospace industry.
The Axsa Group is an industrial conglomerate with international experience in composite materials and industrial processes for the aerospace sector. The group has developed partnerships with several major international institutions active in the aerospace industry. This expertise is expected to benefit Tunisia's industrial landscape.
The signing of the industrial lease agreement was the culmination of efforts involving several parties that organize investment in Tunisia. These parties include the Tunisian Aerospace and Space Industries Group, the Foreign Investment Promotion Agency, and the Technological Pole in Birger Cedria, along with several Tunisian and Turkish institutional and professional partners.
The project's development is expected to have a positive impact on Tunisia's economy and industrial sector. The aerospace industry is a high-growth sector, and Axsa Composites' investment is seen as a significant step towards establishing Tunisia as a major player in this field. The project's success could lead to further investments and partnerships.
The investment by Axsa Composites in Tunisia reflects the country's growing appeal as a destination for foreign investment. The project's implementation is expected to create new job opportunities and contribute to the country's economic growth. The Tunisian government has been working to improve the business environment and attract foreign investment.
Key points
- Axsa Composites invests $5 million in Tunisia's aerospace industry
- The project is expected to commence operations in 2028
- The investment includes technology transfer and development of local skills
