PROJECT

Projects

Summary of Investment Information

Project Number

32940

Company Name

CHIPITA GIDA URETIM ANONIM SIRKETI

Date SPI Disclosed

Oct 7, 2013

Country

Turkiye

Region

Central Asia and Turkiye

Projected Board Date

Nov 8, 2013

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Nov 30, 2016

Department

Regional Industry MAS MCT

Industry

Agribusiness and Forestry

Previous Events

Approved : Dec 2, 2013
Signed : Dec 18, 2013
Invested : Jan 14, 2014

Sector

Other Food

Project Description

Chipita Turkey (the “Company”) is the newly created subsidiary of Chipita S.A., a leading international company in the production and marketing of flour-based snacks and chocolate confectioneries, headquartered in Athens, Greece. The Company is undertaking a greenfield project for the production of croissants in Turkey. The croissant manufacturing plant, currently at the last stages of construction, will operate with two production lines, with a total capacity of 410 pieces of packaged products per minute producing two types of croissants: cocoa cream and vanilla cream croissants, under the global ‘7-Days’ brand. With the construction of the plant expected to be completed in October 2013, the Company will proceed with the equipment installation during the last quarter of 2013, aiming to start production in the first quarter of 2014 and launch the product in the second quarter of 2014.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation