Hayat Kimya (IFC-39959)

Regions
  • World
Where the impacts of the investment may be experienced.
Countries
  • Algeria
  • Egypt
  • Nigeria
  • Pakistan
  • Vietnam
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
Approved
Bank Risk Rating
B
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
Nov 30, 2018
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.
Borrower
Hayat Kimya Sanayi A.S.
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 200.00 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)
$ 600.00 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 Feb 20, 2019

Disclosed by Bank Oct 18, 2018


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

Project Description

Hayat Kimya Sanayi A.S. is a leading fast moving consumer good company in Turkey engaged in the manufacturing of (i) personal care (baby care, lady care and adult incontinence products), (ii) family care (facial and bath tissues, kitchen towels, napkins etc.); and (iii) fabric/home care products (detergent, softener, cleaning liquids etc.). Hayat Kimya holds prominent market positions in most markets it serves. In addition to its home country (Turkey), the Company has manufacturing assets in five other countries in the EMENA region (Egypt, Iran, Algeria, Nigeria and Russia).

Within the scope of the Project, capacity of the existing operations in Egypt, Nigeria and Algeria will be increased and modernized while greenfield investments will be carried out in Pakistan and Vietnam.

Investment Description
  • International Finance Corporation (IFC)

The total Project cost is estimated at US$600 million. IFC is considering providing Hayat Kimya a debt funding package at an amount of up to US$200 million equivalent. The proposed debt package consists of an A loan up to US$75 million equivalent for IFC’s own account and a syndicated B loan up to US$125 million equivalent.

Private Actors

 Hayat Kimya is headquartered in Turkey but has operations in the wider EMENA region. The Company and its subsidiaries are ultimately owned by the Turkish Kigili Family.

Contact Information

Hayat Kimya Sanayi A.S. 
Mrs. Ayla Haciahmetoglu 
Treasury Director 
+90 216 554 41 77 
ahaciahmetoglu@hayat.com.tr 
Mahir Iz Cad. No:25 34662 Altunizade Uskudar/Istanbul, Turkey 
https://www.hayat.com.tr

Hayat Kimya Sanayi A.S.
Mahir Iz Cad. No:25 34662 Altunizade Uskudar, Istanbul, Turkey
Tel: +90 216 554 40 00

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/