Summary of Proposed Investment
Project Number
8488
Company Name
VIKING KAGIT VE SELULOZ ANONIM SIRKETI
Date SPI Disclosed
Oct 30, 1997
Country
Turkiye
Industry
Agribusiness and Forestry
Status
Completed
Sector
Other Paper (Including Multiple Types)
Department
Regional Industry MAS MCT
Environmental Category
B - Limited
Previous Events
Approved : Dec 17, 1997
Signed : Jan 19, 1998
Invested : Feb 24, 1998
Project Description
Summary Of Project Information (SPI)
| Project Name | Turkey-Viking |
| Region | Europe |
| Sector |
Projected Board DateNovember 30, 1997
Company NameViking Kagit ve Seluloz A.S.
Technical Partner and/or Major Shareholders
None.
Project Cost Including proposed IFC investment
US$25.0 million including an IFC senior loan of up to US$10 million.
Location of project and Description of site
The project will be at the Company’s existing facilities in Aliaga, about 60 km north of Izmir, Turkey’s largest seaport. Aliaga is a small town which benefits from very good transportation and communication facilities.
Description of Company and Purpose of Project
Viking, one of Turkey’s leading industrial and tissue paper manufacturers, proposes a US$25 million expansion and modernization project. The Company’s total industrial paper production capacity is about 23,000 tons per year. Viking also has a tissue paper conversion line of 12,000 tons per year. The project would almost double the Company’s total paper manufacturing capacity by adding a second paper machine of 25,000 tons (all for tissue paper) for a total paper production (industrial and tissue) of about 48,000 tons per year. The existing machine would produce exclusively industrial paper. The Company’s main strategic objectives are to take advantage of a rapidly growing market in tissue paper and to maintain its position as one of the dominant manufacturers in the domestic industrial paper sector. The goals of Viking’s investment program are to: (i) increase its share of tissue paper in Turkey and develop exports of tissue paper to neighboring countries, (ii) maintain its share in industrial paper, (iii) strengthen its cost competitiveness through increased economies of scale, (iv) develop higher value added products, (v) upgrade and expand its environmental treatment facility, and (vi) broaden the Company’s sources of long-term capital financing. The project would be located at the Company’s existing facility at Aliaga, 60 km north of Izmir, Turkey’s largest seaport.
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. Viking Paper operates a wastewater treatment plant having both biological and chemical treatments. The plant has a treatment capacity of 4000 m3 of waste water. The treated water is discharged to the Guzelhisar River. The effluent waste water meets World Bank water quality guidelines. Based on its review of available information regarding potential environmental impacts and proposed mitigation measures, IFC concludes that Viking Paper proposed project will meet 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 30, 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
Related ESRS/ERS
