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

Textiles | On 29th May 2017

Special package creates 7,50,000 jobs in garment sector

The special garment package of Rs 6,000 crore that was introduced by...

Md Siddiqur Rahman, president, BGMEA, addressing a press conference with other dignitaries. Courtesy: BGMEA

Apparel/Garments | On 29th May 2017

BGMEA asks govt for 5% incentive for 2 years in Budget

The Bangladesh Garment Manufacturers and Exporters Association...

Textiles | On 29th May 2017

Tintex, Bruckner bring new effects to knitted fabric

The textile company Tintex has joined hands with the system supplier...

Interviews View All

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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