Summary of Proposed Investment
Project Number
9376
Company Name
Sakosa Sabanci-Kosa Endustriyel Iplik Ve Kord Bezi Sanayi ve Ticaret A.S.
Date SPI Disclosed
Feb 16, 1999
Country
Turkiye
Industry
Manufacturing
Status
Completed
Sector
Other Textile Products (Including Industrial and Medical Products)
Department
Regional Industry MAS MCT
Environmental Category
B - Limited
Previous Events
Approved : May 6, 1999
Signed : Jun 28, 1999
Invested : Jul 28, 1999
Project Description
Summary Of Project Information (SPI)
| Project Name: | TURKEY: SAKoSa (formerly HOECSA) |
Region:Central and Southern Europe
Sector:
Project No:009376
Projected Board Date:March 31, 1999
Company Name:SAKoSa (formerly HOECSA)
Technical Partner and/or Major Shareholders
The Company has been established on a 50:50 basis by two important groups, Sabanci of Turkey and KoSa of the US, in the polyester industrial yarn and tire cord fabric market, respectively. The joint-venture company intends to build on Sabanci’s experience in operating competitive businesses in Turkey and KoSa’s expertise in industrial yarn production, marketing and distribution in world markets.
Project Cost Including proposed IFC investment
The total investment cost is expected to be DM185 million (US$109 million equivalent). IFC has been requested to provide an A Loan of around DM36 million (US$21 million equivalent) for its own account, a B Loan of around DM47 million (US$28 million equivalent) for the account of participants, and a C Loan of DM10 million (US$6 million equivalent) for its own account.
Location of project and Description of site
The facility is located in an approximately 61,500 m2 lot in a small-scale industrial area at the border of the Alikahya village in Izmit, Turkey. The site was acquired through direct purchase from the industrial estate owners. This transaction did not cause resettlement of communities or economical displacement and the site is not located near sensitive areas.
Description of Company and Purpose of Project
The Company will produce HMLS polyester yarn and tire cord fabric produced from this yarn, mainly for export markets.
Environmental Category and Issues
Key environmental issues include liquid effluents, solid waste handling and disposal, health and safety issues and employee training. Liquid effluents will be pretreated on-site before release to a public wastewater treatment system for final treatment. Most solid waste produced will be sold, while a part will be landfilled in an authorized landfill. The Company will implement actions to improve health and safety conditions and in general ensure compliance with World Bank guidelines and policies.
The Environmental Review Summary is expected to be available on or about February 12, 1999 from the Infoshop.
| Host country location of environmental documents: | Turkey |
Date SPI sent to InfoShop:February 16, 1999
“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
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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