PROJECT

Projects

Summary of Investment Information

Project Number

37550

Company Name

ASSAN ALUMINYUM SANAYI VE TICARET ANONIM SIRKETI

Date SPI Disclosed

Apr 22, 2016

Country

Turkiye

Region

Central Asia and Turkiye

Projected Board Date

May 26, 2016

Environmental Category

B - Limited

Status

Active

Last Updated Date

Nov 30, 2016

Department

Regional Industry MAS MCT

Industry

Manufacturing

Previous Events

Approved : May 31, 2016
Signed : Jul 27, 2016
Invested : Sep 8, 2016

Sector

Aluminum

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.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation