Tupras (IFC-36388)

  • Turkey
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jul 10, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
The holder of the loan, grant, or other investment.
  • Construction
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 278.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jan 19, 2018

Disclosed by Bank Aug 16, 2017

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
This project provides funding to Turkiye Petrol Rafinerileri for research and development, and the construction of new units and platforms.
Investment Description
Tupras is a local oil refining company with 28.1 million tons annual crude oil processing capacity and four refineries (Izmit, Izmir, Kirikkale and Batman) located in Turkey. Tupras is currently the sole operational refining company in the country. Tupras was a state owned enterprise and was privatized in 2006. Currently, 49% of the Company's shares is publicly listed, while the remaining 51% is owned by Enerji Yatirimlari A.S., which is a Koc Holding A.S entity. Koc Holding A.S. is the largest conglomerate in Turkey and operates in four core business sectors: energy, automotive, consumer durables and finance.

Contact Information
Turkiye Petrol Rafinerileri A.S. Gulcig Atalik Finance Coordinator +902623163254 gulcig.atalik@tupras.com.tr Guney Mahallesi, Petrol Caddesi No:25 41790 Korfez Kocaeli www.tupras.com.tr ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/