Sanko Climate (IFC-46580)

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
Gaziantep, Luleburgaz, Narli, Akcakoyunlu
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
  • 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 15, 2023
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
Sanko Holding 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)
$ 150.00 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)
$ 150.00 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)
$ 245.00 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 @ IFC website

Updated in EWS Dec 12, 2024

Disclosed by Bank Jul 12, 2023

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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, Gaziantep-Turkiye based Sanko Group, a family-owned Turkish industrial group of companies owned by Sanko Holding A.S. is a 120-year old Turkish conglomerate operating mainly in the textile, energy, construction, packaging, cement and real estate sectors. The Group has launched a US$405 million multiyear corporate investment program for three key Group companies: (i) Sanko Textile Inc., a textile manufacturer; (ii) Super Film Packaging Industry and Trade Inc., a packaging company; and (iii) Cimko Cement and Construction Industry and Trade Inc., a cement producer.

The proposed IFC investment is a senior secured corporate loan to support the Sanko Group’s investment program with an up to i) US$98 million to Sanko Textile for the greenfield expansion of its ring spinning plant and a new recycling plant in Gaziantep including a total 8.45 MW roof top solar panels installation above the two buildings; ii) US$80 million to Super Film for its greenfield plant investment in Luleburgaz, a district of Kirklareli; and iii) US$42 million to Cimko for its modernization of and energy efficiency investments and  a greenfield 32 MW solar power plant inside of the  Cimko Cement plant area in Narli; (iv) US$25 million capex at Sanko Tekstil, Super Film; and Cimko facilities in Gaziantep to refurbish and reinforce the plants given all have been impacted by the earthquakes happened in Türkiye in February 2023.

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 IFC, Sanko Holding is the main shareholder of Sanko Tekstil, Super Film and Cimko. The holding is ultimately owned by the Konukoglu Family.

Bloomberg states that Sanko Holding Anonim Sirketi Istanbul Subesi operates as a holding company. The Company, through its subsidiaries, invests in textiles, construction, financing, packaging, energy, real estate, construction machinery, information technology, health care, and education areas. Sanko Holding serves customers in Turkey.

Sanko Tekstil Isletmeleri Sanayi Ve Ticaret Anonim Sirketi Besiktas Subesi produces textile goods. The Company offers lingerie, sleep, lounge, yoga, running, tennis, and golf wear products, as well as provides yarn, raw fabric, and finished products. Sanko Tekstil Isletmeleri Sanayi Ve Ticaret Anonim Sirketi Besiktas Subesi serves customers worldwide.
Cimko Cimento Ve Beton Sanayi Ve Ticaret A.S. provides cement and aggregates. The Company offers cement and ready -mixed concrete for the construction of road, skyscrapers, pavement, bridges, railway crosstie, highway, subway, water vessels, and tunnel panel applications. Cimko Cimento Ve Beton Sanayi Ve Ticaret operates in Turkey.
Super Film Ambalaj Sanayi Ve Ticaret AS manufactures unsupported plastic films and sheet. The Company offers packaging, labels, lamination, boop films, and cast films. Super Film Ambalaj Sanayi Ve Ticaret serves customers throughout Turkey.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - MSK Enerji Contractor Mining
- - - - Sanko Holding AS Client Industry and Trade
Sanko Holding AS Client Industry and Trade owns Cimko Cimento Ve Beton Sanayi Ve Ticaret A.S. Subsidiary Industry and Trade
Sanko Holding AS Client Industry and Trade owns Sanko Textile Inc. Subsidiary Industry and Trade
Sanko Holding AS Client Industry and Trade owns Super Film Ambalaj Sanayi ve Ticaret A.S. Subsidiary 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.

General IFC Inquiries - IFC Communications:

Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384

Client - Sanko Holding A.S.:

Ms. Ozde Demirturk - Sustainability Director
Phone: +90 342 211 30 00 (Pbx)
Email: ozde.demirturk@sanko.com.tr
Address: Burak Mahallesi Sani Konukoglu Bulvari No: 223 27580 Sehitkamil / Gaziantep - Turkiye
Website: www.sanko.com.tr 

The project documentation can be accessed at below addresses of the Project Companies in addition to the headquarter of the Sanko Holding referred above:

• Sanko Tekstil (https://www.sankotextile.com/): 3. Organize Sanayi Bolgesi 83029 No’lu cadde No:4 Sehitkamil / Gaziantep - TURKIYE

• Super Film (https://www.superfilm.com/en/): Baspinar (Organize) OSB Mahallesi O.S.B. 2. Bolge Haci Sani Konukoglu Bulvari No:1 Sehitkamil / Gaziantep - TURKIYE

• Cimko (https://www.cimko.com.tr/Home): Eski Gaziantep Yolu Akcakoyunlu Mevki Narli Pazarcik / Kahramanmaras - TURKIYE

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

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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