Sutas Bingol (EBRD-50520)

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
Proposed
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.
Borrower
Sutas Sut Urunleri AS
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)
$ 56.29 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 50
Converted using 2019-03-11 exchange rate.
Loan Amount (USD)
$ 56.29 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)
$ 146.37 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 130
Converted using 2019-03-11 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jul 5, 2019

Disclosed by Bank Mar 11, 2019


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Project Description

According to EBRD website, the proceeds of the transaction will finance the Borrower's investment into a Greenfield integrated dairy farming, processing, feed, and electricity production plant in Bingol, Eastern Turkey. The
Company will provide direct employment to 1092 people as part of its investment in Bingol.

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

Sutas started its operations in 1975 in Karacabey, Bursa, and has grown to become one of the main players in the dairy sector both in terms of size and brand awareness. The Company has more than 5,000 employees.

Contact Information

Mr. Mustafa Cevik (CFO)
+ 90 (216) 572 30 50
https://www.sutas.com.tr/en/
Dudullu Organize Sanayi 1. Cadde, No:21, Umraniye, 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.