Turkey's Limak considers bidding for cement maker Afyon
Aug 18, 2011 - 12:00 am GMT+3
by Aug 18, 2011 12:00 am
Limak, a Turkish infrastructure-to-energy company, considers bidding for cement maker Afyon Cimento and the sale process could be completed in 2-3 months, Chairman Nihat Ozdemir said.
Ozdemir told reporters on Tuesday that Limak is planning to invest $300 million in three years in cement making to increase the total capacity to 8.5 million tons.
Limak will increase the capacity of Ergani cement factory to 2 million tons by investing $100 million and $50 million of this investment would be financed by equity capital and the rest by short-term financing, Ozdemir said.