Project Hero (EBRD-56175)

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
Adiyaman, Adana, Kahramanmaras, Bartin
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
  • 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
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
Mar 26, 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
Cimko Cimento ve Beton San. Tic. A.S.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Climate and Environment
  • 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)
$ 50.00 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.
Loan Amount (USD)
$ 50.00 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.
Project Cost (USD)
$ 300.00 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
Other Related Projects
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jun 4, 2025

Disclosed by Bank May 15, 2025

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

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.

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.

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

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.

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

How it works

How it works