Project Description
Assan Aluminyum Sanayi ve Ticaret A.S., Turkey (the “company” or “Assan”), is one of the leading producers of flat-rolled aluminum products, which includes coil, sheet and foil products.
IFC is planning to provide a corporate facility of EUR50 million for the current modernization and expansion program of the expected EUR65 million project cost. The proposed financing will be used to support (i) Assan’s backward integration, (ii) refinancing of a recently acquired of scrap recycling plant, (iii) modernization of two existing furnaces, (iv) installation of five new furnaces, (v) other investments such as new production and treatment lines, (vi) dross presses and (vii) various investments to improve overall plant maintenance and production efficiencies.