Cementir Holding, through its fully-owned subsidiary Recydia, operating in the field of waste management and renewables, has signed a 25 year contract to manage and process 700,000tpa of municipal solid waste in Istanbul. This represents 14% of the total municipal waste of the Turkish capital.
Total investment will be around EUR28m in two years. Operations are expected to start by the end of 2011 and run-rate EBITDA from 2013 is estimated to be around EUR10m per year.
