German auto major Volkswagen is under uncertainty regarding its decision whether to build a new factory in Turkey over Ankara's operation in northeastern Syria, a spokesman said on Tuesday.
Al Jazeera quoted the spokesperson as saying that the Volkswagen's Board of Directors have delayed the decision despite that an announcement was soon expected on the new factory worth up to 1.5 billion euros ($1.3bn).
"We are carefully observing the present situation and view current developments with concern," the spokesman added.
The opening of the new factory had promised to provide 4,000 jobs.
Turkish troops had last week advanced into the zone controlled by Kurdish militias after the United States announced it was withdrawing its troops from the area, leaving behind the Syrian Democratic Forces (SDF), its main ally in the battle against the Islamic State or ISIS, without any American military support.
However, Turkish President Recep Tayyip Erdogan has said that the offensive aims to remove the Kurdish-led forces from the border area and create a "safe zone" to which millions of Syrian refugees can be returned.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
