The Turkish Saving Deposits Insurance Fund (TMSF) announced tenders for the sale of nine cement factories, seized from the controversial Uzan family, for a total estimated price of $433m. According to the tender invitations published on July 31, 2005 in the Official Gazette, the tenders for the sale of the nine factories, which combined meet 12 per cent of Turkey’s cement and clinker demand, would take place in October 2005.
The estimated price of Trabzon Cimento is $50m of Van Cimento is $22m of Ergani Cimento $53m and of Sanliurfa Cimento $56m. Gaziantep Cimento is estimated at $47m, Ladik Cimento at $60m, Bartin Cimento at $22m, Standart Cimento at $62m and Edirne Lalapasa at $61m.
Turkish army pension fund Oyak, industrial conglomerate Sabanci, cement group Nuh Cimento, Lafarge and HeidelbergCement are expected to bid in the tenders.