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Soktas to receive $45.8 mn package from IFC
27 Nov '07
1 min read
Soktas, a textile manufacturing firm is likely to get a US $45.8 million financial aid from the World Bank's private sector arm-International Finance Corporation (IFC).
According to IFC, the package would assist both Soktas and its subsidiary Soktas India in upgrading its capital equipments and produce value added products. Besides, it will also improve its competitiveness in the export markets.
The package will cater long-term loans to Soktas Turkey and Soktas India together with an equity investment in the latter.
Most importantly, the package would aid the company to come up with its exclusive greenfield manufacturing plant in India that will produce yarn-dyed shirting fabric to feed the growing markets of India and Southeast Asia.
According to IFC, the package would assist both Soktas and its subsidiary Soktas India in upgrading its capital equipments and produce value added products. Besides, it will also improve its competitiveness in the export markets.
The package will cater long-term loans to Soktas Turkey and Soktas India together with an equity investment in the latter.
Most importantly, the package would aid the company to come up with its exclusive greenfield manufacturing plant in India that will produce yarn-dyed shirting fabric to feed the growing markets of India and Southeast Asia.
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