Limak Cimento in Côte d'Ivoire joint venture

Limak Cimento, part of the Turkish conglomerate Limak Holding, is to enter the Côte d'Ivoire market through a new grinding and packaging plant venture with local partner Afrikbat.

The two parties held a signing ceremony in Ankara, Turkey, to establish the joint venture companies named Limak Afrika SA, news agency Anadolu Ajansi reported. Limak will hold a 51 per cent stake.

Construction of the 1Mta plant, to be built in Abidjan, will start this year and is expected to launch in the third quarter of 2015.

The plant will serve the local market as well as other African countries. It will also produce 1Mm3 of concrete and at a later be expanded to include a concrete block production facility and prefabricated products at the site, the news agency quoted Limak Holding chairman Nihat Ozdemir as saying.