📋 Tender Overview
Project Number
48329
Company Name
CIMSA CIMENTO SANAYI VE TICARET ANONIM SIRKETI
Date SPI Disclosed
Jan 13, 2025
Country
Turkiye
Region
Central Asia and Turkiye
Projected Board Date
Oct 4, 2024
Environmental Category
B
Status
Active
Last Updated Date
Department
Regional Industry MAS MCT
Industry
Manufacturing
Previous Events
Approved : Oct 4, 2024
Signed: Nov 1, 2024
Invested: Dec 4, 2024
Sector
Cement
Project Description
The proposed IFC’s financing (the IFC Loan) is to be provided to Çimsa Çimento San. ve Tic. A.S. (Cimsa or the Company), a publicly listed cement and building materials manufacturer with global footprint thanks to its operations in Türkiye, Germany, Italy, Spain, USA and Cyprus. The IFC Loan, structured as a Green Loan, will help fund Cimsa’s multi-year investment program aimed at decarbonizing its plants in Türkiye (the Project). The Project is to be completed by 2027 and comprises (a) modernization investments (including reduction in clinker usage by increased use of additives in cement production); (b) energy efficiency investments (incl. system changes for increased use of alternative fuels and waste heat recovery improvements); and (c) ground-mounted solar panel installations for captive use.
