DFF - Egesil Kimya (EBRD-50405)

Countries
  • Turkey
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
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
Sep 11, 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
Egesil Kimya Sanayi ve Ticaret A.S.
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
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)
$ 17.29 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 15 million
Converted using 2018-10-19 exchange rate.
Loan Amount (USD)
$ 17.29 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 13, 2019

Disclosed by Bank Oct 19, 2018


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Project Description

According to EBRD website, the project involves financing the company's new production facility in Sakarya, Turkey which will increase precipitated silica capacity by 40,000 tons. It is in line with the Bank's Green Economy Transition approach as 100 per cent of the EBRD's proceeds will be used for GET eligible investments. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

Egesil Kimya Sanayi ve Ticaret A.S., a joint stock company established under the laws of Turkey, is a manufacturer of precipitated silica. The company is majority-owned (51 per cent) by Germany's Evonik Industries, one of the world's leading specialty chemicals producers and the largest silica producer.

Contact Information

Project Contact: Seden Ilseven
Email Address: silseven@egekimya.com 
Telephone No.: +90 212 294 65 67; +90 212 294 50 73
Website: www.egesil.com.tr
Office Address: Papirus Plaza Ayazma Caddesi No: 37 34410 Kagithane # Istanbul, Turkey

ACCOUNTABILITY MECHANISM OF EBRD
The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.