PROJECT

Projects

Summary of Investment Information

Project Number

47067

Company Name

KUCUKCALIK TEKSTIL SANAYII VE TICARET ANONIM SIRKETI

Date SPI Disclosed

Feb 12, 2024

Country

Turkiye

Region

Central Asia and Turkiye

Projected Board Date

Mar 15, 2024

Environmental Category

B - Limited

Status

Pending Disbursement

Last Updated Date

Dec 15, 2024

Department

Regional Industry MAS MCT

Industry

Manufacturing

Previous Events

Approved : May 10, 2024
Signed : Dec 13, 2024

Sector

Garment and Apparel (With Primary Textile Operations, Excluding Footwear)

Project Description

IFC will provide a senior secured loan of up to US$50 million equivalent in EUR (the “IFC Loan”) to Küçükçalik Tekstil Sanayi ve Ticaret A.S. (“Kucukcalik”, the “Company”), a vertically integrated textile manufacturer and exporter of home textiles operating in Türkiye and Egypt. The IFC Loan will finance the Company's investment program, which entails: (i) installing a semi-continuous polymerization plant to produce polyethylene terephthalate (PET) / polyester chips, (ii) expanding yarn spinning capacity from 60 tons per day to 100 tons per day in two phases (the first phase up to 85 tons per day); (iii) installing a textile recycling facility; (iv) implementing a 2.2MW rooftop solar PV, and (v) associated working capital needs (the “Project”).

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation