Sönmez to diversify into cement

Sönmez to diversify into cement

ISTANBUL- Hürriyet Daily News
Sönmez Holding, a Bursa-based company active in the textile sector, is diversifying into the cement business, and plans to make a $165 million investment in a cement production facility in the southern Turkish province of Adana, according to daily Sabah. The holding plans to export half of its production to the Middle East and North Africa.

The new plant will have a production capacity of two million tons per year, and will be located in Adana’s TAYSEP free industrial zone. Sönmez will partner with Kutlucan Şirketler Grubu on the project. The construction of the plant is expected to be completed within 20-22 months.

Sönmez Holding Chair Celal Sönmez a total of 2,500 people indirectly. The plant will be built near the Mediterranean Sea and will have its own port, which will give it a shipping advantage, because transporting cement via air is both costly and unfeasible, Sönmez said.

Quark.Models.Entities.Ancestor?.Title?.ToUpperInvariant() Short-term external debt at $174 billion

Short-term external debt at $174 billion
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