Home / Knowledge / News / Textiles / EBRD credits $50 mn to acrylic fiber producer Aksa
EBRD credits $50 mn to acrylic fiber producer Aksa
13
Dec '11
The European Bank for Reconstruction and Development (EBRD) is promoting higher environmental standards and energy efficiency in Turkey's industrial sector with a US$ 50 million loan to Turkish producer of acrylic fiber, Aksa Akrilik Kimya Sanayi A.S (AKSA).

The loan will be used to boost the company's operational efficiency by optimising production processes and reducing operational costs at AKSA's plant in Yalova, in north-western Turkey. The total cost of the improvements stands at around US$ 60 million.

With the EBRD's help, AKSA will implement measures that will improve its environmental performance and help achieve best international practices in plant and worker safety, as well as risk management. The project will help Aksa reduce its carbon footprint and set improved standards in Turkish industry while also encouraging other players to achieve similar standards.

“The EBRD is committed to supporting energy efficiency finance programmes in Turkey. We are delighted to sign this new contract, which will help AKSA remain a competitive international industrial producer. We hope it will set a shining example for other Turkish companies to follow, especially in other energy-intensive sectors,” said Alain Pilloux, EBRD Managing Director for Industry, Commerce and Agribusiness.

Speaking during a loan signing ceremony, Mehmet Ali Berkman, Akkök Chief Executive Officer and Aksa Chairman said that with this EBRD loan, Aksa would be able to undertake a series of strategic investments and pursue further improvements.

“We aim to achieve best international practices, worker safety and risk management at the plant by implementing particular environment and social management and performance enhancement initiatives,” he added.

AKSA has already introduced stringent energy efficiency and operational standards, which usually exceed both local regulatory requirements and the EBRD requirements.

European Bank for Reconstruction and Development


Must ReadView All

Apparel/Garments | On 23rd Sep 2017

AAFA urges negotiators to preserve TPLs in NAFTA

The American Apparel & Footwear Association (AAFA), an alliance of...

Textiles | On 23rd Sep 2017

SIMA urges Centre to re-look duty drawback rates

he Southern India Mills’ Association (SIMA) has appealed to the...

Textiles | On 23rd Sep 2017

PKR 690.65-mn budget for Pakistan Cotton Committee

The Pakistan Central Cotton Committee (PCCC) recently approved a PKR...

Interviews View All

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search