Sisecam takes EIB EUR 60 million loan

The European Investment Bank (EIB) has lent EUR 60 million to Turkey“s largest glass manufacturer, Sisecam.
The company will invest in the the construction of a new float glass line and the building…

The European Investment Bank (EIB) has lent EUR 60 million to Turkey“s largest glass manufacturer, Sisecam. The company will invest in the the construction of a new float glass line and the building of a co-generation plant in an existing compound at a soda ash factory. While the co-generation plant will furnish clean and reliable energy for the production of soda ash, the new float-line will produce flat glass for the Turkish market. Both investments are part of the company“s effort to strengthen its operational efficiency and cater for increasing demand. EIB financing of the project will promote a sustainable, private sector investment and fulfils the priority objective of Turkey“s industrial policy as it moves in the direction of EU Membership, notably the development of the private sector of the economy. EIB Vice-President Wolfgang Roth underlined that the loan would help to boost private sector development in Turkey. Providing suitable funding to Sisecam will help the company to continue its development and proceed with investments in state-of-the-art technologies and energy efficiency. Sisecam Group provides employment for 13,000, mainly in Turkey, but also in other neighboring as well as EU Accession countries, such as Bulgaria, where it is among the largest foreign direct investors.