PROJECT

Projects

Summary of Investment Information

Project Number

33904

Company Name

RC RONESANS INSAAT TAAHHUT ANONIM SIRKETI

Date SPI Disclosed

Feb 19, 2014

Country

Turkiye

Region

Central Asia and Turkiye

Projected Board Date

Mar 31, 2014

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Gbl Ind, Manufact, Agribus & Services

Industry

Tourism, Retail and Property

Previous Events

Approved : Jun 9, 2014
Signed : Jun 18, 2014
Invested : Aug 6, 2014

Sector

Construction and Real Estate

Project Description

Renaissance Group is a diversified conglomerate with activities mainly in construction and real estate businesses. IFC is planning to provide a corporate revolving facility of up to US$[50-70] mln to support the working capital (WC) needs of RC Rönesans İnşaat Taahhüt A.Ş. (RCI, or the “Borrower”) and direct and indirect subsidiaries in Turkmenistan, Russia and Turkey between 2014-2017. RCI specializes in design and construction of shopping centers, offices, hotels, mixed-use facilities, heavy industry plants, infrastructure facilities and civil engineering and enjoys a ranking of 64th on the ENR Top 100 International Contractors list.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation