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

Last-minute changes in USMCA keeps lid on e-com

Textiles | On 18th Oct 2018

Last-minute changes in USMCA keeps lid on e-com

Eleventh hour changes to a new trade deal torpedoed US hopes of...

Courtesy: Haggar

Apparel/Garments | On 18th Oct 2018

Haggar uses Repreve fibre made of recycled water bottles

Haggar, a US based apparel brand established in 1926, has recycled...

Revenue from RIL petrochemicals soars 56.2% in Q2FY19

Textiles | On 18th Oct 2018

Revenue from RIL petrochemicals soars 56.2% in Q2FY19

The revenue from the petrochemicals segment of Reliance Industries...

Interviews View All

Top executives, Textile industry, India

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Anavila Misra, Anavila Collection

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Amit Jain, Shingora Textiles Ltd

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries is into manufacturing of textile process house machines, ...

Kalai Selvi,

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Franco Ravazzi,

Franco Ravazzi

Italy-based Tessimenti E Orditi Tinti (T.O.T SRL) specialises in stocking...

Robin Grankvist, OrganoClick AB

Robin Grankvist
OrganoClick AB

Robin Grankvist talks about PFCs, additives and various chemicals used in...

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Suresh Patel, Sidwin Fabric

Suresh Patel
Sidwin Fabric

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

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

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

Karan Arora, Karan Arora

Karan Arora
Karan Arora

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

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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

Leave your Comments


October 2018

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

news category


Related Categories:

Advanced Search