Turkish Nuh Cimento sells power plant

Turkish Nuh Cimento sells power plant
Published: 05 May 2004

Turkish cement and clinker producer Nuh Cimento sold its 36.5 MW power plant in Gebze, northwestern Turkey, for 35.5 trln Turkish lira ($24.5m) to energy company Nuh Enerji, both part of Nuh Group.  The plant’s real estate was estimated at some 1.1 trln lira ($758,000). Nuh Cimento will add the funds raised from the sale to its capital, the company said on May 4, 2004.  The plant was evaluated by Turkish real estate company TSKB Gayrimenkul Degerleme.  The plant, built in 1998, started operating in 1999 and supplies electricity to Nuh Cimento and to the town of Hereke, northwestern Turkey.  Nuh Cimento, set up in 1966, has been producing various types of cement, complying with the European standard EN 197-1 and the TS-EN 197-1 standard of the Turkish Standards Institute.