Turkish conglomerate Limak Holding says it will invest US$150m in a 2Mta cement factory in Mozambique.

Limak chairperson, Nihat Ozdemir, said his firm would create least 500 jobs during the first phase of the factory to be built in the Maputo port area.

Limak has major interests in construction, cement, electricity and tourism in Turkey, Egypt, Pakistan, Saudi Arabia, Albania and Macedonia.