Turkish Cimsa to invest

Turkish Cimsa to invest
Published: 16 March 2004

Turkish cement producer Cimsa Cimento will invest 42.5 trln Turkish lira (US$32.3m) in clinker production at its grinding, storage and packaging plant in Kayseri, central Turkey, it was reported on March 15, 2004.  After the completion of the investment project, the plant will have an annual capacity of 540,000t of clinker. The company has received an investment incentive certificate from the Turkish Treasury for the project. The certificate enables Cimsa to import US$14.9m worth of goods exempt from customs duties. The project will create 27 jobs.

Cimsa, based in Mersin, southeastern Turkey, was set up in 1972. It has cement and ready-mix concrete production, storage and packing facilities in Mersin, Kayseri and Malatya.  The company reported a net profit of 30.4 trln lira ($23.1m) for the first nine months of 2003, compared to 29.8 trln lira ($22.6m) for the corresponding period of 2002.