Turkish textile group Sanko Holding will invest between US$20m and US$25m in the modernisation and renovation of cement mill Gaziantep Cimento, said Abdulkadir Konukoglu, chairman of Sanko Holding management board. Sanko bought cement factories Gaziantep Cimento, in southeastern Turkey, and Bartin Cimento in northwestern Turkey, previously owned by the Uzan family, in auctions held by state banking fund TMSF.
The group plans further investments in sectors outside textile and expects the share of textile in its total turnover to go down to 40 per cent from 60 per cent over the next 15 years. The group has interests in construction, finance, packaging, energy, foods, beverages, healthcare, education and the automotive sector.
