Arcelik’s current ownership structure is as follows: Koc Group (57.24%), Burla group (17.61%), Arcelik (9.97%), and publicly listed shares on Borsa Istanbul (15.18%).

Koc Holding is the leading industrial conglomerate of Turkey, mainly engaged in the energy, automotive, consumer durables, and finance sectors. Koc Holding is majority-owned by the Koc family of Turkey, while the remaining shares (26.46%) of Koc Holding are publicly listed..

Total Project Cost is expected to be EUR290 million, while the proposed IFC investment is an A loan of up to EUR150 million.

The Project will be located in Turkey and Bangladesh.

No governance risks to expected development impacts are noted.

This is a Category B project according to IFC’s Policy on Environmental and Social Sustainability. The environmental and social (E&S) risks and impacts associated with this project are limited, site-specific, largely reversible, and can be readily addressed through generally accepted mitigation measures and good international industry practices (GIIP).

Key E&S issues and risks reviewed as part of IFC’s appraisal include: i) Arcelik’s E&S management and monitoring systems, including E&S assessment and alignment process for new acquisitions and investments, specifically for the new Singer Bangladesh plant to be constructed; ii) contractor management systems and capacity to support effective implementation during construction; iii) management of labor and working conditions, and OHS, including Covid-19 impacts, freedom of association and gender; iv) monitoring and management of air emissions, resource efficiency, waste and hazardous materials and greenhouse gas emissions; v) emergency preparedness and response; vi) supply chain risks; vii) management of social risks and impacts of land acquisition at the Araihazar Economic Zone; and viii) stakeholder engagement and grievance mechanism.