Votorantim Cimentos has made an investment of €140 million in the expansion of its cement plant in Sivas, Turkey.
The investment will treble the plant’s current production capacity, from 0.6 to 1.8 million metric t per year.
This investment permits Votorantim Cimentos to increase its market share in the Turkish cement market. The Sivas Plant is currently accountable for approximately 19% of Votorantim Cimentos’ 3 million metric t per year production capacity in Turkey. Post expansion, it will be responsible for 42% of the company’s total production capacity in the country.
Groundbreaking of the plant will take place in June 2015. Construction work will employ around 700 people. Cement production will begin in 2017.
The €140 million investment in the Sivas plant will be Votorantim Cimentos’ largest outside the American continent in this package.
“Votorantim Cimentos sees the potential of Turkey’s construction sector and this investment shows our commitment to reinforcing our presence in Turkey. Sivas’ expansion will bring a crucial dynamism and competitiveness to the company in the Turkish cement market”, says Mustafa Sefik Tüzün, CEO of Votorantim Cimentos in Turkey.
Votorantim Turkey accounts for a share of about 29% of Votorantim Cimentos’ total production capacity, excluding China.
Adapted from press release by Joseph Green
Read the article online at: https://www.worldcement.com/europe-cis/29052015/votorantim-cimentos-140-million-investment-929/