PROJECT

Projects

Summary of Investment Information

Project Number

48329

Company Name

CIMSA CIMENTO SANAYI VE TICARET ANONIM SIRKETI

Date SPI Disclosed

Jan 13, 2025

Country

Turkiye

Region

Central Asia and Turkiye

Projected Board Date

Oct 4, 2024

Environmental Category

B - Limited

Status

Active

Last Updated Date

Jan 13, 2025

Department

Regional Industry MAS MCT

Industry

Manufacturing

Previous Events

Approved : Oct 4, 2024
Signed : Nov 1, 2024
Invested : Dec 4, 2024

Sector

Cement

Project Description

The proposed IFC’s financing (the IFC Loan) is to be provided to Çimsa Çimento San. ve Tic. A.S. (Cimsa or the Company), a publicly listed cement and building materials manufacturer with global footprint thanks to its operations in Türkiye, Germany, Italy, Spain, USA and Cyprus. The IFC Loan, structured as a Green Loan, will help fund Cimsa’s multi-year investment program aimed at decarbonizing its plants in Türkiye (the Project). The Project is to be completed by 2027 and comprises (a) modernization investments (including reduction in clinker usage by increased use of additives in cement production); (b) energy efficiency investments (incl. system changes for increased use of alternative fuels and waste heat recovery improvements); and (c) ground-mounted solar panel installations for captive use.                                                 

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation