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    Reference: 20170892
    Release date: 4 May 2018

    Promoter – Financial Intermediary




    The project concerns the construction of a greenfield glass fibre manufacturing plant located in the industrial zone of Balikesir, Turkey. The project was launched in Q4 2017 and is expected to be completed in Q4 2018.


    The EIB financing of this project will promote a sustainable, private sector investment and corresponds to the priority objective of the new 'Turkish Industrial Strategy Paper (2015-2018)' encouraging domestic, eco-efficient and sustainable production. Furthermore, the project supports two areas of focus of the Commission's assistance – Environment and Climate Change and Competitiveness and Innovation – as well as the Bank's priority lending objectives concerning environmental protection.


    Under ELM Guarantee

    This operation is covered by the ELM Political Risk Guarantee.

    Proposed EIB finance (Approximate amount)

    EUR 50 million

    Total cost (Approximate amount)

    EUR 115 million

    Environmental aspects

    The project entails the construction of a new glass fibre production facility. Equivalent investments in the EU would fall under Annex II of EU Directive 2014/52/EU – the Environmental Impact Assessment (EIA) Directive. The environmental dimension of the project will be scrutinised during the appraisal in particular: i) the cumulative impacts (both environmental and social), ii) raw material transport and consumption, iii) energy use and efficiency, as well as a iv) conformity check with applicable EU directives – the EIA and the Industrial Emissions (IED) Directives – and the corporate, environmental, health and safety management plans.


    Procurement procedures will be done in accordance with the Bank's Guide to Procurement and the relevant applicable EU public procurement rules.


    Signed - 22/11/2019


    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Turkey Industry