Release date: 9 July 2012
Promoter – Financial Intermediary
Petkim Petrokimya Holding A.S.Location
Description
Capacity expansion and modernisation of the existing mid-sized ethylene plant in Aliaga (near Izmir).
Objectives
The project will increase the efficiency of the existing plant and reduce operating cost, thus adding local value to the diversification of Turkey’s industrial base while reducing import dependency. The project should help to keep prices down on ethylene-derived products. This in turn should support the domestic supply to local downstream industrial activities. Local employment will further be safeguarded and indirect employment created. Employment will further be created during the two-year implementation period.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 40 million
Total cost (Approximate amount)
EUR 92 million
Environmental aspects
An equivalent project in the EU would fall under Annex II of EU Directive 2011/92. An Environmental Impact Study (EIS) has been prepared, public consultations have been held and the Environmental Impact Assessment (EIA) has been approved by the competent authority. The plant additions comply with best available technology (BAT) standards. Additional environmental load is limited and partly reversed into a net gain, such as e.g. for NOx, due to the partial burner replacement with low NOx burners. The non-technical summary (NTS) and the EIS have been disclosed according to national law. An English translation of the NTS and the project relevant parts of the original Turkish EIS document are available on the EIB website.
Procurement
The Bank will require the promoter to ensure that any procurement procedures are done in accordance with the Bank’s Guide to Procurement
Status
Signed - 29/04/2014
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).