Turkey’s Limak Holding plans to invest $1 billion this year to boost power generation capacity to over 5,000 MW in the next five years from the current 3,000 MW.
Limak, which has assets in construction, cement and energy, already holds 35% in a consortium which has taken over the power distribution of 11 Turkish provinces through privatisation tenders in 2013 and 2014.
The $1 billion will be used to construct a new power plant and to boost efficiency at existing plants, Nihat Ozdemir told a news conference.
Ozdemir also said Limak was looking to increase its market share in the domestic cement market to 2% from 12% through acquisitions and investments to boost capacity.
He also said the company planned to build two cement plants in Africa. “We will invest $50 million in Ivory Coast and $150 million in Mozambique to build production facilities,” he said.
Limak is part of the Turkish consortium which made the winning bid in May 2013 to build and operate Istanbul’s third airport, envisaged as one of the world’s largest.
