51857 - SiseCam Expansion

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Summary of Investment Information

Project Number

51857

Company Name

TURKIYE SISE VE CAM FABRIKALARI ANONIM SIRKETI

Date SPI Disclosed

Nov 7, 2025

Country

Turkiye

Region

Central Asia and Turkiye

Projected Board Date

Oct 10, 2025

Environmental Category

B - Limited

Status

Active

Last Updated Date

Nov 12, 2025

Department

Regional Industry MAS MCT

Industry

other

Previous Events

Approved : Oct 10, 2025
Signed : Oct 27, 2025
Invested : Nov 6, 2025

Sector

other

Project Description

The IFC Financing will help finance the Company’s solar and flat glass capex including refinancing of short-term loans availed for its implementation and working capital needs in Türkiye.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	250.18
Equity

Development Impact

The Project has an Anticipated Impact Measurement and Monitoring (AIMM) rating of Good with a score of 52. The expected project-level outcomes are (i) environmental / climate effects: reduction of greenhouse gas (GHG) emissions through investments in solar supply chain (solar glass) and efficiency improvements through cold repair of existing flat glass furnace; and (ii) economy-wide effects: foreign exchange savings, skilled job creation and domestic value addition due to production of higher margin goods. The anticipated market-level outcome is the enhancement of Turkish glass manufacturing sector’s adoption of practices that are not yet fully mainstreamed in the sector such as water use standards and gender inclusive practices or female employees. The investment has the potential to catalyze a broader market shift towards development impact-related financial instruments such as incentive-based loans, sustainability-linked loans, and bonds for other Turkish manufacturers in his sector through demonstration and replication effects.

IFC will deliver both financial and non-financial additionality. IFC’s financial additionality will mainly be through countercyclical provision of financing as Sisecam's access to longer term funding is constrained due to the country’s current volatile and liquidity-strained market, coupled with the recent increase in Sisecam’s leverage and associated credit rating downgrades. The IFC Financing, with a tenor of seven years, will enhance Sisecam’s financial resilience and extend the weighted average life of its debt portfolio, enabling pursuit of investments with long gestation periods. The expected mobilization component (58 percent of the total Project cost) will further strengthen IFC’s financial additionality. IFC’s non-financial additionality will be delivered by guiding and incentivizing Sisecam to achieve its ambitious and quantitative sustainability targets and position the Company for its first sustainability-linked loan (SLL) in the medium-term. Additionally, IFC`s extensive expertise in Environmental and Social (E&S) related matters will lead to Sisecam aligning its E&S policies and procedures with IFC’s Performance Standards. These constitute part of IFC’s longstanding and ongoing guidance to Sisecam on sustainability and E&S matters.

Indicator	Metrics	Comments	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Board Composition - Total (#)	number	Tracked annually	Not Available	Not Available	Not Available
Board Composition - Women (#)	number	Tracked annually	Not Available	Not Available	Not Available

E&S Category Rationale / Risks and Mitigation

The project is a Category B according to IFC's Environment and Social Sustainability Policy, with potential limited adverse environmental or social risks and/or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures, as described in the following sections.

Key E&S issues and risks associated with the project include (i) E&S management and monitoring systems and organizational capacity to assess and manage E&S impacts from its operation and construction works for the project; (ii) management of labor and working conditions and occupational health and safety (OHS); (iii) workers grievance mechanism & contractors’ management, nondiscrimination, emergency planning with the focus on plants capacity expansion and modernization construction works; (iv) management of air emissions, noise, waste, wastewater, hazardous material; (v) process safety risk assessment and management; and (vi) stakeholders’ engagement, including grievance mechanism.

Contacts

For Inquiries About the Project, Contact

Turkiye Sise ve Cam Fabrikalari A.S.
Emre Igdirsel
Corporate Finance Manager
+90 850 206 5050
EIGDIRSEL@sisecam.com
Karayolu Cad. No: 44A, D Blok, K: 234947 Tuzla, Istanbul, Turkey
www.sisecam.com.tr

For Inquiries and Comments About IFC, Contact

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2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

Local Access of Project Documentation

Turkiye Sise ve Cam Fabrikalari A.S.

sc_ir@sisecam.com

https://www.sisecam.com/en/investor-relations/sisecam-investor-relations-contact

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. Its purpose is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

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