Project Limestone (EBRD-56534)

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
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
  • 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
Sep 9, 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
Cimsa Cimento Sanayi ve Ticaret A.S.
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)
$ 58.51 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.
Currency conversion note:
Bank reported 50
Converted using 2025-09-09 exchange rate.
Loan Amount (USD)
$ 58.51 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.
Currency conversion note:
Bank reported 50
Converted using 2025-09-09 exchange rate.
Project Cost (USD)
$ 66.70 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.
Currency conversion note:
Bank reported 57
Converted using 2025-09-09 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Nov 10, 2025

Disclosed by Bank Nov 6, 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.

As stated on the project disclosure page, the EBRD provided up to EUR 50 million in favour of Cimsa Cimento Sanayi ve Ticaret A.S., a joint stock company incorporated in Turkiye, to finance the green investment programme implemented under the Company's Green Financing Framework which includes a greenfield calcium aluminate cement ("CAC") kiln and decarbonisation investments in other existing kilns located at the Mersin plant in Turkiye.

This decarbonisation investment program fully supports the green economy transition through the capacity building of green cement derivatives (i.e., CAC) while implementing renewable energy sources and improving thermal efficiencies, while reducing the clinker to cement ratio with alternative raw materials. The investment in the greenfield CAC kiln will contribute to the decrease in fuel and energy consumption. Therefore, the Project is qualified as 74% GET and aligned with EU Taxonomy for climate mitigation given it will enable and demonstrate substantial life cycle GHG emission savings.

The Project will also address key human capital development by introducing a new internship programme to build technical and green manufacturing skills in partnership with local education providers. The Project also qualifies for Gender SMART at the level of gender additionality as it will promote women's access to economic opportunities in the male dominated cement industry.

The main objective of the project's technical cooperation component is to develop a dust monitoring model through the integration of satellite-based remote sensing and AI analytics to estimate fugitive dust emissions from Cimsa's Mersin plant. This will be supported by a detailed analysis of the various dust types generated at different stages of cement production, including their sources, composition, and characteristics. The outcome will enable a more targeted and effective approach to monitoring and mitigating dust emissions.

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, Cimsa Cimento Sanayi ve Ticaret A.S. (the "Company" or "Cimsa"), a subsidiary of Haci Omer Sabanci Holding A.S ("Sabanci Holding"), was founded in Mersin in 1972. Today, it stands as one of the global leaders in the building materials market with a diversified footprint across key international markets.

Cimsa operates four integrated production plants in Turkiye, located in Mersin, Eskisehir, and Afyonkarahisar. Internationally, the Company operates three production facilities in Bunol (Spain), Houston, Texas (the US), and Ireland, and strategically located terminals across Europe's key markets, including Germany, Spain, and Italy.

Renowned as one of the world's foremost brands in white cement and CAC, Cimsa sustains and expands its global operations through Cimsa Building Solutions, combining its operational expertise with the financial strength of its main shareholder, Sabanci Holding.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Cimsa Cimento 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 - Cimsa Cimento Sanayi ve Ticaret A.S.:

Mustafa Aydin
Email: cimsa@cimsa.com.tr 
Phone: +90-216-651-53-00
Website: https://cimsa.com.tr/ 
Address: Kucukbakkalkoy Mah Kayisdagi Cad. No1 Allianz Tower Kat 23 34750 Atasehir / Istanbul 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