The European Bank for Reconstruction and Development (EBRD) has provided a €25mn loan to Turkey’s Polinas Plastik to finance the company’s capex investments, which include resource- and energy-efficiency measures in the production line and solar panels, the investment bank said on August 13 in a press release.
Among the country’s leading producers of flexible food packaging, Polinas is one of the oldest and an important regional player in the sector. The company exports its products to more than 50 countries.
The company is 99 percent owned by Gözde Girişim, the private equity arm of Yildiz Holding.
The proceeds of the loan will enable the installation of and support for a new production line for biaxially oriented polypropylene (BOPP) film, as well as the purchasing of new machinery and investments in solar panels, said the bank.
Through the project, Polinas will reduce its carbon emissions by increasing the use of renewable energy and boosting the production of fully recyclable packaging material that is capable of using both recycled content and bio-based content.
Since 2009, the EBRD has invested more than €20bn in Turkey through 450 projects and trade finance deals, most of it in the private sector.
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