The provision of EUR25 million long-term loan, to WAT Motor Sanayi ve Ticaret A.S., a Turkish company engaged in the manufacturing of industrial electric motors and electric vehicle charger equipment.
The Bank's financing will be used to finance the Company's investment program that includes (i) capacity increase investments in EV charger equipment production and value added electric motors, and (ii) expansion of e-mobility services by establishing a network of EV charger stations across Turkiye.
According to the EBRD, the loan will be so divided:
As stated on the EBRD's website, WAT Motor, a joint stock company incorporated in Turkiye, is engaged in the production of electric motors (e.g., industrial, smoke extraction, marine, brake, white goods and servo motors) and EV charger equipment. Established in 1965, the Company operates a plant in Tekirdag, Turkiye with a total production capacity of 700,000 units per annum and exports to over 40 countries. The Company is fully owned and controlled by Koc Holding, Turkiye's largest investment holding company active in a variety of sectors, and Koc Family members.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||Koc Holding AS||Parent Company||Finance|
|-||-||-||-||WAT Motor Sanayi ve Ticaret A.S.||Client||Industry and Trade|
Client - WAT Motor Sanayi ve Ticaret A.S.:
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