| Project Detail |
Location:
Türkiye
Project number:
54165
Business sector:
Manufacturing and Services
Notice type:
Private
Environmental category:
B
Approval date:
14 Jun 2023
Status:
Signed
PSD disclosed:
05 Sep 2023
The EBRD provided up to EUR 70 million long-term loan to Turk Traktor ve Ziraat Makineleri A.S. (the "Company") to implement a capex programme that includes (i) modernization of existing manufacturing plants located in Sakarya and Ankara for the implementation of EU Stage V compliant engine production, as well as associated R&D; and (ii) installation of a greenfield rooftop solar plant at Sakarya plant.
Project Objectives
The proceeds of the financing will enable Turk Traktor to implement a capex programme that includes modernization of existing manufacturing plants located in Sakarya and Ankara for the implementation of EU Stage V compliant engine production, as well as associated R&D, and installation of a greenfield rooftop solar plant at Sakarya plant. The Project will enable Company to produce engines compliant with EU Stage V emission standards hence will result lower emissions and increase renewable energy consumption. In addition, the Project will help the Company to strengthen human capital and gender equality by promoting more open and equal economic opportunities in a traditionally male-dominated sector. This will be achieved through upgrades of HR policies and practices with the view to achieve greater workforce diversity among both white and blue collars. The Project is in line with EBRDs Strategy for Türkiye as it supports higher value-added activities and increased energy and resource efficiency. The Project is also aligned with the EBRDs Green Economy Transition ("GET") Approach. |
