27304 - Assan CPLP

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Summary of Proposed Investment

Project Number

27304

Company Name

ASSAN DEMIR VE SAC SANAYI ANONIM SIRKETI

Date SPI Disclosed

May 13, 2008

Country

Turkiye

Industry

Manufacturing

Projected Board Date

Jun 20, 2008

Status

Completed

Sector

Aluminum

Department

Regional Industry MAS MCT

Environmental Category

C - No Impact

Previous Events

Approved : Jul 23, 2007
Signed : Jun 26, 2008
Invested : Aug 18, 2008

Project Description

Assan Demir ve Sac Sanayi A.S. (Assan Demir or the company) has a series of projects targeting overall energy efficiency improvement in its aluminum processing plant in Tuzla-Istanbul, Turkey. Most of the company’s investments target reducing the heat loss in its melting and casting operations through measures including adjustments to furnace charging practices and furnace design. The company also plans to install variable speed controls on pumps, take measures to improve efficiency of internal lighting; and install a new generation degreasing machine that uses hot water instead of detergents. Together, these “Cleaner Production” investments qualify for funding via IFC’s Board-approved Cleaner Production Lending Pilot, a $20 million facility via which IFC can provide Cleaner Production sub-loans to its existing portfolio clients.

Assan Demir, established in 1977 and part of the family-owned Kibar Group, is the largest aluminum sheet, coil, and foil manufacturer in Turkey, and also ranks amongst the top Turkish steel galvanizing companies. Assan Demir is an existing IFC client.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	20.0
Equity

Development Impact

Assan Demir’s Cleaner Production investments are expected to result in:

- Reduced Greenhouse Gas (GHG) Emissions: The packaged of energy efficiency investments included within this project are expected to reduce the Tuzla site’s annual “GHG” emissions by some 7,000 tons CO2 equivalent.

- Cleaner Process for Coil Degreasing: The existing degreasing machine will be replaced with a new generation machine that uses hot water instead of detergents. This machine will have a positive environmental impact along with improving the product quality.

- Improved Product Quality: Better design of the proposed metal transfer system and the detergent-free degreasing system will positively impact the product quality.

This project will also serve to demonstrate that the investments proposed by Assan Demir at its Tuzla plant are cost-effective; this is expected to lead to their wider adoption within the industry.

IFC will assist Assan Demir with their objective to find solutions for more efficient use of energy and waste reduction via financing their Cleaner Production investments with an appropriately structured senior loan. IFC will work with the company to help quantify expected operational and environmental benefits from its Cleaner Production investments. This investment may have a demonstration impact as this is the first Cleaner Production loan IFC will be extending to a real sector client in Turkey.

Contacts

For Inquiries About the Project, Contact

Mr. ADNAN SEN, Advisor to the Chairman of the Board
Kibar Holding A.S.
D-100 Karayolu 32.km Assan Tesisleri
34390 Tuzla/Istanbul – TURKEY

Tel: +90-216-581 1200
Fax: +90-216-395 2971

E-mail: adnan.sen@kibarholding.com
Website: www.kibarholding.com

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This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. It is not an offer of shares to the public and is intended solely to enhance the transparency of IFC’s activities. This document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC’s Policy on Disclosure of Information that went into effect April 30, 2006.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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