PROJECT

Projects

Summary of Investment Information

Project Number

43902

Company Name

KORDSA TEKNIK TEKSTIL A.S.

Date SPI Disclosed

Apr 1, 2022

Country

Turkiye

Region

Central Asia and Turkiye

Projected Board Date

Feb 28, 2022

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Dec 10, 2025

Department

Regional Industry MAS MCT

Industry

Manufacturing

Previous Events

Approved : Feb 28, 2022
Signed : Mar 31, 2022
Invested : Apr 18, 2022

Sector

Automotive Tires

Project Description

Kordsa Teknik Tekstil A.S. (“Kordsa Turkey”) and its subsidiaries (together with Kordsa Turkey, “Kordsa”) is a leading Turkish group involved in the production of industrial nylon & polyester yarn, tire cord fabric and single end cord in addition to composite and construction reinforcement materials. The proposed IFC investment is up to US$110 million to fund (i) Kordsa’s investment program that will be undertaken in emerging markets between 2022 and 2025 to scale up research and development activities, acquire technology, improve operational efficiency and grow product capabilities in high margin products and (ii) increased permanent working capital need (the “Project”). Up to 25% of the proposed IFC investment will be utilized by Kordsa Inc., a wholly owned subsidiary of Kordsa Turkey in the US, for technology acquisitions. This component will benefit Kordsa’s operations in various emerging markets, such as Turkey, Brazil, Indonesia and Thailand.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation