Sabanci cement group plans more investments

Sabanci cement group plans more investments
Published: 27 October 2005

 Erhan Kamisli, head of Sabanci Holding cement group, said that they planned US$600m investment in 2005-2008 period, including US$316m worth of cement plant purchases. Sabanci’ Cimsa and Akcansa recently gave best bids for Eskisehir Standart cement plant and Ladik cement plant respectively, which were previously owned by Uzan Group and tendered by SDIF (Saving Deposit Insurance Fund). Kamisli said that Akcansa and Cimsa would make US$135m and US$50m investments in coming years. According to Kamisli, all cement plants tendered by SDIF operate under capacity and investment should be made for the plants. Sabanci cement companies would make investments for the plants after the transfer process is completed, he suggested. Kamisli also said that cement consumption in Turkey which was estimated to be 34.5-35Mt in 2004, is projected to reach 46Mt in 2010 and 60Mt in 2015.