Project Description
Eczacibasi Karo Seramik A.S. (EKS) is one of Turkey’s leading tile manufacturers. Approximately half of EKS sales comprise of exports. EKS belongs to the Eczacibasi Group, a prominent industrial group in Turkey with which IFC has undertaken various projects in the past. EKS is currently seeking US$10 million from IFC to finance some of its new investments and part of its permanent working capital needs. The proposed US$25 million project will consist of (i) a capacity increase involving the production of specialty tiles for the export market; and (ii) provision of long-term working capital financing. The new investments will occur at EKS’ two production facilities at Tuzla, near Istanbul, and Bozuyuk, near Eskisehir.