Jan. 11 (Bloomberg) -- Ciner Group, a Turkish company with interests in mining, energy and media, will invest $1.35 billion in a soda ash production complex that will also have an 800 megawatt power plant.
Ciner’s Kazan Soda Elektrik AS will use a former Rio Tinto Plc site in Kazan, near Ankara for the project, Nedim Sener, chairman of Kazan Soda, said at a news conference. Soda ash is used in glass, chemicals, paper, detergent and other industrial products. China Tianchen Engineering Corp. will provide engineering and procurement services and the site will be completed by 2017, Sener said.
Kazan will have an annual production of 2.7 million metric tons of soda ash and Ciner, which also holds a 74 percent stake at Eti Soda AS, the country’s biggest soda ash producer at a nearby site, will have a combined soda ash production of 4.4 million tons when both plants run at full steam from 2017, Sener said.
“Ciner Group will be the world’s biggest producer of soda ash when the plants are complete,” Sener said.
Ciner will use loans only from Chinese banks and some equity to finance the project, Turgay Ciner, chairman of the group, said in the news conference.
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