ETI BAKIR TO SET UP FERTILIZER FACILITY WITH TRY 1.5BN INVESTMENT

Eti Bakir, the Cengiz Holding subsidiary operating in multiple sectors including energy, mining and construction, will set up a diammonium phosphate (DAP) fertilizer production plant in Samsun with a TRY 1.5bn investment, according to Asim Akbas, Assistant General Manager of Eti Bakir. The firm expects to cut USD 100m in imports with the investment. The facility will manufacture 250,000 tonnes of DAP fertilizer per year, bringing Cengiz Holding ’s DAP fertilizer production to 625,000 tonnes. Eti Bakir’s existing facility in Samsun has an annual production capacity of 600,000 tonnes of crystalized ammonium sulphate fertilizer. The company’s total fertilizer production will exceed 1.2 million tonnes after the new investment is completed.