Textile company Sanko Tekstil is planning to spend TRY2.35 million on modernising its cotton yarn production after being given an investment incentive award by the Turkish Treasury.

The award grants Sanko 100 per cent customs duty and value added tax exemption in order for it to boost its annual production capacity to 2,600 tonnes.

Sanko is planning to ship $1.60m worth of imports through the scheme.