Turkish Glass Industry Financed With Care by EIB

The European Investment Bank is lending 55 million ЕUR to Sisecam, a leading Turkish glass manufacturer, for funding part of a modernisation and capacity expansion programme.

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The implementation of Sisecam's investment programme includes the construction of a new float glass line and the construction and operation of a coating line at a production site in the province of Bursa, the country's second industrial hub after Istanbul.

Both investments form part of Sisecam's effort to reinforce its operational efficiency and cater for increasing demand on the local market. Another portion of the loan will be used to fund the company's research and development expenses, assuring that it will continue to use advanced technologies equalling high quality products and enhanced competitiveness.

EIB financing for this project comes under the Bank's pre-accession facility and supports Turkey's industrial policy, notably to develop the country's private sector economy on its way to EU Membership.

Matthias Kollatz-Ahnen, EIB Vice-President overseeing the Bank's operations in Turkey, underlined that the loan will help to boost private sector development in the country. Providing suitable long-term funding to Sisecam will help the company to continue its development and proceed with investments in state of the art technologies.

Read the entire news on the source link below.

600450 Turkish Glass Industry Financed With Care by EIB glassonweb.com
Date: 9 March 2007
Source: International.ibox.bg

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