Summary of Proposed Investment
Project Number
8900
Company Name
Pasabahce-Schott Cam Sanayi ve Ticaret A.S.
Date SPI Disclosed
Mar 30, 1998
Country
Turkiye
Industry
Manufacturing
Status
Completed
Sector
Glass and Glass Products (Including Glass and Mineral Wool)
Department
Gbl Ind, Manufact, Agribus & Services
Environmental Category
B - Limited
Previous Events
Approved : May 20, 1998
Signed : Jul 22, 1998
Invested : Sep 18, 1998
Project Description
Summary Of Project Information (SPI)
| Project Name | Turkey-Pasabahce-Schott Zwiesel |
| Region | Europe |
| Sector |
Projected Board DateApril 30, 1998
Company NamePasabahce-Schott Zwiesel
Technical Partner and/or Major Shareholders
The majority shareholders on a 50:50 basis are Pasabahce A.S. from Turkey and Schott Zwiesel from Germany.
Project Cost Including proposed IFC investment
Total project cost is about DM 114 million. IFC''s proposed investment is a loan of up to DM 30 million for its own account and up to DM 30 million for the account of participant banks.
Location of project and Description of site
The project will be located in an industrial site near Eskisehir, about 200 kilometers from Istanbul.
Description of Company and Purpose of Project
The Pasabahce-Schott Zwiesel joint venture is a greenfield project which will consist of a plant with a total furnace capacity of 36,000 net tons/year and 114 million glassware pieces per year. The project will exclusively serve the hotel-restaurant-catering (Horeca) business outside of Turkey and all of earnings will be from exports. The Company will employ 470 people, including 246 workers.
Environmental Category and Issues
This is a category B project according to IFC’s environmental review procedure. The environmental issues associated with this project include: air emissions, treatment of process and domestic wastewaters, and solid waste disposal. Health and safety issues include fire prevention and protection, emergency response and employee exposure to noise, dust and chemical substances. The sponsors will install air pollution controls in all emission points, wastewater and discharges will be treated, and adequate health and safety measures will be implemented. Based on its review, IFC concludes that the project will be designed to meet World Bank guidelines.
The is expected to be available on March 31, 1998 from the Public Information Center.
| Date SPI sent to PIC | March 30, 1998 |
“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 974-4384
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March 30, 1998 5:12 PM
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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