SICPA earmarks $740m for Turkish R&D facility

Swiss traceability and authentication company SICPA has said it will invest TL 5bn (around $740m) in a new R&D facility in Ankara, Turkey.

The facility – to be called the AR-GE Centre – will employ some 3,000 people and will carry out advance technological research related to artificial intelligence, blockchain and cybersecurity, said Philippe Amon, chairman and CEO of SICPA in a statement (in Turkish).

The Turkish government is providing more than TL 3bn in funding to support the project.