PROJECT

Projects

Environmental Review Summary

Project Number

11270

Company Name

ECZACIBASI HOLDING A.S.

Date ERS Disclosed

Feb 5, 2002

Country

Turkiye

Region

Central Asia and Turkiye

Environmental Category

B - Limited

Status

Completed

Previous Events

Approved : May 31, 2002
Signed : Jun 14, 2002
Invested : Aug 5, 2002

Sector

Glazed Ceramic Tiles

Industry

other

Department

Gbl Ind, Manufact, Agribus & Services

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.

Environmental and Social

Conclusion & Monitoring