Turkish Mardin Cimento to invest

Turkish Mardin Cimento to invest
Published: 28 July 2004

Mardin Cimento will invest 2.8 trln Turkish lira (US$1.9m) in modernisation, it was reported on July 26, 2004.  The company has received an investment incentive certificate from the Turkish Treasury for the investment. The certificate allows Mardin Cimento to benefit from a 40 per cent investment tax credit and 100 pct customs duty and value added tax (VAT) exemption. The project will be 70 per cent financed by Mardin Cimento and 30 per cent by other sources.  The company plans to produce of 645,000t of clinker, 900,000t of cement and 134,000 cu m of ready-mixed concrete in 2004.