Summary of Proposed Investment
Project Number
7320
Company Name
ASSAN DEMIR VE SAC SANAYI ANONIM SIRKETI
Date SPI Disclosed
Apr 8, 1997
Country
Turkiye
Industry
Manufacturing
Status
Completed
Sector
Aluminum
Department
Gbl Ind, Manufact, Agribus & Services
Environmental Category
B - Limited
Previous Events
Approved : Jun 4, 1997
Signed : Jun 20, 1997
Invested : Aug 1, 1997
Project Description
Summary Of Project Information (SPI)
| Project Name | Turkey-Assan II |
| Region | Europe |
| Sector |
Projected Board DateMay 20, 1997
Company NameAssan Demir ve sac Sanayii A.S.
Technical Partner and/or Major Shareholders
Technical Partners: Fata Hunter (Italy) and Norandal (U.S.)
Project Cost Including proposed IFC investment
US$68.0 million including an IFC senior loan of US$10 million and quasi-equity of up to US$5 million.
Location of project and Description of site
The plant will be located in Tuzla, 30 km south east of Istanbul. The Company is an existing IFC client. Tuzla is within a major industrialized area and has good transportation and communication facilities.
Description of Company and Purpose of Project
The project is a US$68 million expansion and modernization of the aluminum sheet and foil businesses of Turkey’s leading manufacturer in the aluminum finishing sector. The Company’s principal products are aluminum coils, sheets and foil. The objectives of the project are to: (i) increase total aluminum production capacity to meet increasing demand and take advantage of market opportunities, and (ii) significantly reduce Assan’s operating costs by upgrading its technology to internationally competitive levels. The project consists of the purchase and installation of: (i) one casting line (Assan’s third); (ii) one cold mill (Assan’s second); (iii) four additional annealing furnaces; (iv) one foil line; and (v) related processing equipment.
Environmental Category and Issues
This is a category B project according to IFC’s environmental review procedure. Environmental issues include air emissions, liquid effluents, and solid waste disposal. Occupational and safety issues include exposure to high temperatures and potentially hazardous aerosols. Speed casting technology produces thin hot rolled sheets which reduce the number of passes for production of finished products by subsequent cold rolling. This would result in lower consumption of electrical energy per ton of finished product compared with conventional casting techniques. In November 1995, Assan and IFC signed an agreement to change the Company’s CFC foam for sandwich panels to non-CFC material by 1997. This project is on-going under the OTF Project Grant program. The Company has spent about US$0.6 million to date in this project.
The is from the Public Information Center.
| Date SPI sent to PIC | April 8, 1997 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Sponsor / Cost / Location
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