Toros Agri will make an investment of $ 232 million

10/10/2012

Apart from establishing a new sulfuric acid facility with a cost of $ 232 million in Samsun enterprise of Toros Agri, which is its affiliate company, Tekfen Holding will also conduct renewal work in the existing facilities with an investment to be made.

The statement made to Public Disclosure Platform (KAP) by Tekfen Holding is as follows: “In Samsun enterprise of Toros Tarım Sanayi ve Ticaret A.Ş., which is one the affiliate companies of us, investments will be made for the renewal of existing phosphoric acid facility and improving of composite fertilizer facility for the purpose of ensuring safety in the provision of raw material and reducing the production costs. The annual capacity of new Sulfuric Acid Facility to be established will be 726 thousand tons/year, and it is planned to increase the annual phosphoric acid production capacity to 200 thousand tons/year upon the renewal of existing Phosphoric Acid Facilities along with such facility, and to meet all of the need for phosphoric acid from production. On the other hand, by composite fertilizer facilities improving investment, it is targeted to enable direct entry of raw material to the Composite fertilizer production units from the new Sulfuric Acid Facility to be established. The estimated cost of investments has been determined to be USD 232 million, and 40% of such cost has been foreseen to be covered from the equity capital.”