Limak and Afrikbat launch joint Ivory Coast venture

1506 Limak Afrique SA, a new joint venture involving Limak of Turkey and Afrikbat of the Ivory Coast, is to invest US$50 million to develop concrete and cement production in the Ivory Coast. The new joint venture firm is 51% owned by Limak, with 49% belonging to Afrikbat. Afrikbat CEO Edoh Jean-Claude Ayanou will manage the joint venture. A key part of the joint venture investment will be a 1 million m³/year capacity concrete production facility set to be completed by September 2015.

It is estimated that Limak Afrique SA will invest $200 million in its activities over the next five years. It is notably in charge of the construction of 3,000 social housing units in the Ivory Coast. There are also plans to create three industrial units in the country for prefabricated concrete elements, bricks and gravel.