Hayat Kimya (IFC-39959)

Regions
  • World
Geographic location where the impacts of the investment may be experienced.
Countries
  • Algeria
  • Egypt
  • Nigeria
  • Pakistan
  • Vietnam
Geographic location where the impacts of the investment may be experienced.
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
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
Nov 30, 2018
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
Hayat Kimya Sanayi A.S.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
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)
$ 200.00 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)
$ 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 Feb 20, 2019

Disclosed by Bank Oct 18, 2018

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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.

Hayat Kimya Sanayi A.S. is a leading fast moving consumer good company in Turkey engaged in the manufacturing of (i) personal care (baby care, lady care and adult incontinence products), (ii) family care (facial and bath tissues, kitchen towels, napkins etc.); and (iii) fabric/home care products (detergent, softener, cleaning liquids etc.). Hayat Kimya holds prominent market positions in most markets it serves. In addition to its home country (Turkey), the Company has manufacturing assets in five other countries in the EMENA region (Egypt, Iran, Algeria, Nigeria and Russia).

Within the scope of the Project, capacity of the existing operations in Egypt, Nigeria and Algeria will be increased and modernized while greenfield investments will be carried out in Pakistan and Vietnam.

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

The total Project cost is estimated at US$600 million. IFC is considering providing Hayat Kimya a debt funding package at an amount of up to US$200 million equivalent. The proposed debt package consists of an A loan up to US$75 million equivalent for IFC’s own account and a syndicated B loan up to US$125 million equivalent.

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.

 Hayat Kimya is headquartered in Turkey but has operations in the wider EMENA region. The Company and its subsidiaries are ultimately owned by the Turkish Kigili Family.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Hayat Kimya Sanayi A.S. Client -

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.

Hayat Kimya Sanayi A.S. 
Mrs. Ayla Haciahmetoglu 
Treasury Director 
+90 216 554 41 77 
ahaciahmetoglu@hayat.com.tr 
Mahir Iz Cad. No:25 34662 Altunizade Uskudar/Istanbul, Turkey 
https://www.hayat.com.tr

Hayat Kimya Sanayi A.S.
Mahir Iz Cad. No:25 34662 Altunizade Uskudar, Istanbul, Turkey
Tel: +90 216 554 40 00

ACCOUNTABILITY MECHANISM OF IFC

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/

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How it works