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As stated by the EBRD, the transaction consists of an EBRD investment of up to USD 50 million in a Eurobond issuance of up to USD 300 million by Cimko Cimento ve Beton San. Tic. A.S..
The proceeds of the Eurobond will (i) finance the Company's decarbonization investment program, (ii) refinance the Company's existing short and mid-term debt raised for the acquisition of Adana Port in October 2024, and (iii) issuance related transaction costs. In addition, the Project will support human capital development by introducing a new dual-learning internship programme to build core manufacturing skills in partnership with local education providers. Therefore, the Project aligns with the mitigation and adaptation goals of the Paris Agreement, Green Economy Transition ("GET") Approach, Strategy for Promotion of Gender Equality, Equality of Opportunity Strategy, and finally, Strategy for Turkiye 2024-2029 as it supports decarbonisation across sectors through direct engagement with private clients.
The program fully supports the green economy transition through the implementation of renewable energy sources and improvement in thermal efficiencies, as well as an increase in resource efficiency. The Project will introduce a new dual-learning internship programme in collaboration with local education providers, delivering core manufacturing skills in the cement industry.
As stated by the EBRD, Cimko Cimento ve Beton San. Tic. A.S. was established in 1995, through Sanko Holding's acquisition of the Adiyaman Cimento, and engaged in the production and sales of cement, clinker, aggregate and ready-mixed concrete. The Company is owned by Sanko Holding A.S. (85%) and Sanko Enerji San. Tic. A.S. (15%), which, in turn, are wholly owned by Konukoglu family. As of FY24, the Company has a workforce of over 1,700 employees.
Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
---|---|---|---|---|---|---|
Sanko Holding AS | Parent Company | Industry and Trade | owns | Cimko Cimento Ve Beton Sanayi Ve Ticaret A.S. | Client | Industry and Trade |
Client - Cimko Cimento ve Beton San. Tic. A.S.:
Nevra Özhatay
Email: nevra.ozhatay@cimko.com.tr
Phone: +90 344 228 77 00
Fax: +90 344 228 77 08
Website: www.cimko.com.tr
Address: Akcakoyunlu Mevkii Eski Gaziantep Yolu Uzeri Narli/Kahramanmaras, Turkiye.
ACCESS TO INFORMATION
You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request
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 at: 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