Summary of Proposed Investment
Project Number
8372
Company Name
SOKTAS TEKSTIL SANAYI VE TICARET ANONIM SIRKETI
Date SPI Disclosed
Oct 24, 1997
Country
Turkiye
Industry
Manufacturing
Status
Completed
Sector
Integrated Textile Operation (Spinning, Weaving/Knitting, but no Garment )
Department
Gbl Ind, Manufact, Agribus & Services
Environmental Category
B - Limited
Previous Events
Approved : Nov 26, 1997
Signed : Dec 1, 1997
Invested : Dec 18, 1997
Project Description
Summary Of Project Information (SPI)
| Project Name | Turkey-Soktas |
| Region | Europe |
| Sector |
Projected Board DateNovember 30, 1997
Company NameSoktas Pamuk ve Tarim Urunlerini Ticaret ve Sanayii A.S.
Technical Partner and/or Major Shareholders
None.
Project Cost Including proposed IFC investment
US$33.0 million including an IFC senior loan of up to US$13 million.
Location of project and Description of site
The project will be at the Company’s existing facilities in Soke, 120 km south-east of Izmir, Turkey’s largest seaport. Soke is a town located in a primarily agricultural area and has good transportation and communication facilities.
Description of Company and Purpose of Project
Soktas, one of Turkey’s leading manufacturers in the shirting business, has proposed an expansion and modernization project. The project would increase the Company’s total fabric capacity by 5 million meters up to 22.2 million meters by increasing its yarn-dyed shirting fabric capacity from about 7.2 million meters to about 12.2 million meters. The Company’s main objective is to solidify its position as one of the dominant manufacturers in the European color woven shirting fabric market. The primary components of the investment program are: (i) in weaving, 72 new looms and a new building; (ii) in fabric finishing, additional washing, dyeing and mercerizing machines; (iii) in yarn dyeing, three winding machines; and (iv) in ring spinning, three spinning frames and two combing machines.
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. Following appraisal, IFC has concluded that the proposed project will meet all World Bank environmental, health and safety policies and guidelines and host country requirements.
The is from the Public Information Center.
| Date SPI sent to PIC | October 24, 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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