Saudi firm to invest $3 bln in Turkey farms

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Private Saudi firm Planet Food World (PFWC) will invest around $3 billion in agriculture in Turkey over the next five years to export food products to the Gulf region, the head of its Turkish unit said.

PFWC wants to build 20,000 industrial farms over the next five years, Mete Mutluoglu said in an interview.

Each farm is seen at 10,000 square metres and will raise vegetables and fruits as well as having fish, poultry, sheep and cattle-raising facilities. PFWC's total land usage in Turkey is seen at 200 square kms, he said on Friday.