Abdulkadir Konukoglu, board chairman of the Turkish Sanko Holding, announced that the company secured US$75m loan from the IFC and US$100m syndicated loan from a consortium of seven foreign banks for Sanko’s investments in the cement sector. The company will also make a US$131m investment in the sector to be met with its own resources, bringing to the total amount of investment to US$306m.
Some US$250m will be invested for Kahramanmaras cement plant, the construction of which started two months ago while US$56m will be invested for renewal of the Bartin cement plant, he furthered. The board chairman also said that the IFC loan has a maturity of ten years however he did not disclose its interest rate.
