Turkey: Turkish cement plant enjoys cash flow

Byszheng

Updated Fri, 22 Apr 2016 09:43:23 GMT

The share capital of the cement plant Medcem Cameroon, a subsidiary of the Turkish group Eren Holding, has soared from CFA 10 million to CFA 400 million, a legal statement by the firm revealed on Wednesday.

This capital upsurge by cash contribution from shareholders, however is in stark contrast with the commercial activities of the cement plant whose products have been absent from the market for over six months.

After several postponements and a test phase in late August 2015, Medcem cement production was stopped just after the public appearance of some bags of the firm based in Cameroon’s commercial capital, Douala.

Medcem Cameroon, which boasts a production capacity of 600,000 tons per year, expandable to 1 million tons for the same period, is in competition with the Nigerian Dangote Cement, the Cement of Cameroon a subsidiary of the France-based Lafarge (CIMENCAM) and Morocco-based African Cement (CIMAF) which belongs to the Addoha group.