SiseCam Expansion (IFC-51857)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Turkiye
Geographic location where the impacts of the investment may be experienced.
Specific Location
Tarsus, Mersin
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Oct 10, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
TURKIYE SISE VE CAM FABRIKALARI ANONIM SIRKETI
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • 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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 250.18 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 250.18 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. 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, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 10, 2025

Disclosed by Bank Nov 7, 2025

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the information provided in the project disclosure, the IFC Financing will help finance the Company’s solar and flat glass capex including refinancing of short-term loans availed for its implementation and working capital needs in Türkiye.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

As stated by the IFC, the Project, with a total estimated cost of US$600 million, will support flat and solar glass manufacturing, contributing to the growth of renewable energy solutions and meeting increased demand for solar glass, while also increasing the energy efficiency of the existing plant operations. The IFC Financing will be allocated as follows: (i) refinancing of short term loans secured to implement a greenfield flat and solar glass manufacturing capacity increase in Tarsus Municipality; (ii) cold repairs of its flat glass line in Mersin City; (iii) working capital requirements in its glass operations in Türkiye and refinancing of its upcoming Eurobond payment (together the “Project”). The Project will support solar glass manufacturing, contributing to the growth of renewable energy solutions and meeting increased demand for solar glass, while also increasing the energy efficiency of the existing plant operations 

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the IFC, founded in 1935, Sisecam Group, headquartered in Turkiye is a leading glass and soda ash manufacturer. The company operates 45 production facilities across 14 countries, with an annual production capacity of 8.1 million tons of glass and 5 million tons of soda ash. Sisecam oversees more than 50 affiliated companies spanning five core business divisions: architectural glass, industrial glass, glass packaging, chemicals, and glassware. Approximately 58% of Sisecam is owned by Türkiye Is Bankasi A.S. and its related entities, while the remaining shares are publicly traded on Borsa Istanbul.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Turkiye Sise Ve Cam Fabrikalari A.S. Client Industry and Trade

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

General IFC Inquiries - IFC Communications:

Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384

Client - Turkiye Sise ve Cam Fabrikalari A.S.:

Emre Igdirsel - Corporate Finance Manager
Phone: +90 850 206 5050
Email: EIGDIRSEL@sisecam.com / sc_ir@sisecam.com
Address: Karayolu Cad. No: 44A, D Blok, K: 234947 Tuzla, Istanbul, Turkey
Website: www.sisecam.com.tr / https://www.sisecam.com/en/investor-relations/sisecam-investor-relations-contact 

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

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

How it works

How it works