One of Turkey“s leading glassmakers, Trakya Cam Sanayi, has announced that it has decided to obtain a loan of USD 70 million from the World Bank“s International Finance Corporation (IFC), in two tra…
One of Turkey“s leading glassmakers, Trakya Cam Sanayi, has announced that it has decided to obtain a loan of USD 70 million from the World Bank“s International Finance Corporation (IFC), in two tranches. The first part, worth USD 30 million, will mature in 7.5 years including a grace period of three years. The remaining part of USD 40 million will mature in 6.5 years with a grace period of four years. Cost of the loan was not disclosed. The company said that it will use the loan to finance the construction of a 61,000 tonnes a year energy glassworks at the Mersin plant premises; investments for an energy glass processing plant, environmental investments in the Bulgaria plant, as well as the company“s overall working capital. Turkiye Sise Cam Fabrikalari (Sisecam), Trakya Cam“s parent company, will be acting as a guarantor for the loan.