Home / Knowledge / News / Textiles / EBRD advances loan to Turkish ASF producer Aksa
EBRD advances loan to Turkish ASF producer Aksa
12
Mar '15
Aksa, a Turkish producer of acrylic staple fibre (ASF) has bagged a €50 million loan from the European Bank for Reconstruction and Development (EBRD) to promote higher standards and greater efficiency.

The loan will finance Aksa’s capex program which includes a series of environmental, health and safety, and resource efficiency improvements as well as investments in R&D of new high-value-added products.

With support from EBRD, Aksa will implement new health and safety standards at its plant, which will go beyond requirements of national regulations.

According to an EBRD statement, Aksa will become the country’s first chemical fibre company committing itself to the best global practices in the industry.

In addition, the EBRD loan will finance the construction of a wastewater treatment facility, which will also be used by other companies nearby and increase amount of recycled water.

“This is particularly important given the firm’s proximity to the Sea of Marmara and the issue of water stress in the area,” EBRD said.

Frederic Lucenet, EBRD director for manufacturing and services, said, “EBRD’s investment will help Aksa pioneer the highest international health and safety practices, raising the bar for Turkish industry.”

“With the new standards and greater efficiency, Aksa will use less energy and fewer resources while recycling more water,” he added.

“We are pleased to be able to support Aksa which can make Turkish acrylic fibre production more efficient, more environmentally friendly and even more competitive on the global market,” he observed.

According to Cengiz Tas, general manager of Aksa Akrilik said, “This significant investment demonstrates Aksa’s high corporate social-responsibility values and is a historic step for the entire Turkish chemical sector.”

“We will upgrade health and safety standards at our plant in Yalova, the largest acrylic production facility in the world, and will build the biggest communal wastewater treatment plant in the region,” he too added.

Established in 1968 by Turkish textile manufacturers to meet the growing demand for acrylic fibre from the country’s textile industry, Aksa grew to become the global leader in the sector.

Akkök Holding A.S. has 39.6 per cent stake in the company, while 37.2 per cent of shares are publicly traded on Borsa Istanbul.

The EBRD has previously provided a US$ 50 million loan to Aksa to finance energy efficiency improvements and product development aimed at boosting its operational efficiency.

Improving the competiveness of Turkish firms by investing in higher standards and innovation is one of the EBRD’s priorities in the country.

The Bank started investing in Turkey in 2009 and currently operates from offices in Istanbul, Ankara and Gaziantep.

In 2014, Turkey became the Bank’s largest single recipient with new investments worth €1.4 billion and till date, EBRD has invested over €5 billion in the country across more than 140 projects. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Building of Ethiopian textile unit by Chinese firm starts

Textiles | On 22nd Jan 2018

Building of Ethiopian textile unit by Chinese firm starts

Chinese firm Wuxi No. 1 Cotton Mill will build a textile plant in...

JD.com to invest $3.1 bn to revive industry in NE China

Apparel/Garments | On 22nd Jan 2018

JD.com to invest $3.1 bn to revive industry in NE China

To back the government’s campaign to revitalize the traditional...

SIMA makes pre-budget recommendations to Indian govt

Textiles | On 22nd Jan 2018

SIMA makes pre-budget recommendations to Indian govt

Exemption of 5 per cent goods and services tax (GST) on raw cotton,...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

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...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Judy Frater
Somaiya Kala Vidya

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

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

January 2018

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
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

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
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

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
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

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
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


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