Turkish cement producer Akcansa will invest US$135m to raise the capacity of its cement plant in Canakkale, western Turkey, company general director Mehmet Gocmen said on May 19, 2006. The project is scheduled to be completed by the end of 2007. Cement production in the country was fuelled by the boom in the construction sector which registered a growth of over 20 per cent in 2005, Gocmen added.
Akcansa is a joint venture between local industrial conglomerate Sabanci Holding and German sector company HeidelbergCement, with each of them holding a 39.72 per cent stake.
