Turkish cement producer Çimsa is planning to shift its investments to a new facility abroad due to overcapacity in Turkey’s cement industry.
The company, a subsidiary of Sabancı Holding, has a 6Mt production capacity at its four facilities in various provinces and is now seeking new investments abroad, according to Mehmet Hacıkamiloğlu, general director of Çimsa.
“From now on, Çimsa is focusing abroad,” he said. “As Çimsa, we can establish a new facility or make acquisitions in the Mediterranean and Black Sea basins. We may announce two pieces of good news within the year.”
The company has turned its focus to Syria and Egypt as well as Mediterranean and Black Sea regions for investments abroad, he said.
“We prepare our investment plans in five-year periods. Çimsa aims to grow two-fold within the next three to five years with our investments and acquisitions abroad.”
As well as its planned overseas investments, the company is also preparing for an environmentalist investment worth US$57m in Turkey. The company plans to establish a waste treatment facility including an energy generation system, a first for the country.