PROJECT

Projects

Summary of Investment Information

Project Number

34669

Company Name

SODA SANAYII ANONIM SIRKETI

Date SPI Disclosed

Dec 5, 2014

Country

Turkiye

Region

Central Asia and Turkiye

Projected Board Date

Jul 21, 2014

Environmental Category

B - Limited

Status

Active

Last Updated Date

Jun 11, 2022

Department

Regional Industry MAS MCT

Industry

Manufacturing

Previous Events

Approved : Aug 8, 2014
Signed : Nov 18, 2014
Invested : Nov 20, 2014

Sector

All Other Chemical Product

Project Description

Established in 1969 Soda Sanayii (‘Soda’ or the ‘Company’) is Turkey’s sole domestic synthetic soda and chromium producer. Soda has a foothold in foreign markets, namely through its subsidiary in Bosnia Herzegovina and joint venture with Solvay in Bulgaria in the soda ash business and Chromital in Italy in the chromium segment. Soda ranks among the top 10 soda ash producers in the world and fourth in Europe, with a 15% market share.

The project entails an IFC equity investment of up to US$25 million in Soda, in which Trakya Cam Sanayii A.S. (or ‘Trakya Cam’) and Anadolu Cam Sanayii A.S. (or ‘Anadolu Cam’) will be selling shares to IFC and which in turn are expected to use the proceeds in energy efficiency investments. Sisecam (or ‘Group’) has invited IFC to become a shareholder in Soda, as part of the Group’s program of eliminating cross-ownership in the Group.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation