Pegasus Industrie S.A. Announces a €20 Million Major Investment in Ivory Coast

On May 28, 2024, during bilateral meetings, Faruk Yıldırım, Co-Founder of Pegasus Industrie S.A., and His Excellency Souleymane Diarrassouba, Minister of Trade and Industry of the Republic of Ivory Coast, discussed Pegasus Industrie S.A.’s current investments in Ivory Coast and future significant investments.

In the first part of the meeting, the existing investments of Pegasus Industrie S.A. in Ivory Coast were evaluated in detail, and discussions were held regarding timelines. The first phase of the current investment, the cement & concrete additive factory, has been completed, and construction of the second phase, the gypsum powder factory has begun, with orders placed for machinery and equipment. Critical topics such as exemptions for both the first and second phases and the planned commissioning by the end of the year were discussed.

In the second part of the meeting, the topic of land allocation in the industrial zone for the plasterboard plant project, which Pegasus Industrie S.A. plans to establish in Ivory Coast with an investment of approximately 20 million Euros, was addressed.

Following the discussions between Pegasus Industrie S.A. and the Ministry, an agreement on land allocation was reached. This step reinforced the company’s commitment to investing in Ivory Coast and strengthened its partnership with the country. The DEIK-Ivory Coast Business Council Board of Directors supports the continuation of such investments and the further strengthening of commercial relations between Turkey and Ivory Coast.

These investments made and planned in Ivory Coast clearly demonstrate the strength of the trust and cooperation between the two countries. They contribute significantly to deepening economic relations and establishing mutually beneficial partnerships. Furthermore, these projects are crucial for the Ivory Coast economy as they support regional development, job creation, and provide opportunities for citizens to work in various sectors. The increasing collaboration between the two countries is laying the foundation for a stronger strategic partnership.