Currently, 18% of the Company's shares are publicly listed in Borsa Istanbul, while the remaining 82% is owned jointly by Koc Holding A.S. (“Koc Holding”) and Ford Motor Company (“Ford”).

Koc Holding is majority owned by the Koc family of Turkey and the remaining shares (c. 26%) of Koc Holding are publicly listed. Koc Holding is the leading industrial conglomerate of Turkey, mainly engaged in five sectors namely, energy, automotive, consumer durables, and finance.

The Project which forms part of the Company’s multi-year investment program is estimated to cost around EUR1.0 billion. The proposed IFC investment are two A Loans of up to EUR150 million in 2022 and up to EUR90 million in 2023.

The Project is located in Kocaeli, Turkey.                                        

No governance risks to expected development impacts are noted.                   

 This is a Category B project according to IFC's Policy on Environment and Social Sustainability (2012). Based on the information reviewed by IFC, the proposed project will have limited adverse E&S impacts that are few, site-specific, largely reversible and readily addressed through existing mitigation measures and good international industry practices (GIIP). 

Key E&S issues and risks associated with the Project include: (i) the Company's E&S risk assessment and management for the capacity increase project in Kocaeli plants, (ii) management of labor and working conditions in particular for contractors and occupational health and safety (OHS) at the construction site, freedom of association and collective bargaining,  (iii) monitoring and management of air emissions, noise, waste and hazardous materials (iv) supply chain management which relates to electric vehicle related components.