📋 Tender Overview
Location:
Türkiye
Project number:
56089
Business sector:
Agribusiness
Notice type:
Private
Environmental category:
B
Approval date:
12 Mar 2025
Status:
Exploratory
English-language PSD published:
05 Feb 2025
Location:
Türkiye
Project number:
56089
Business sector:
Agribusiness
Notice type:
Private
Environmental category:
B
Approval date:
12 Mar 2025
Status:
Exploratory
English-language PSD published:
05 Feb 2025
Project Description
The provision of EUR 25 million long-term senior loan (the "Loan") to a soft drink producer incorporated in Turkiye, Uludag Icecek Turk A.S.
Project Objectives
The Bank's financing will be used to finance capital expenditures in the Yenice factory.
Transition Impact
ETI score: 61
Primary Quality: Green
The proceeds of the Bank's investment will be used to finance capex that achieve energy and resource efficiency.
Secondary Quality: Competitive
The investment will result in the increase of the Company's market presence thanks to new and value-added products and will result in higher profitability thanks to economy of scale.
Client Information
ULUDAG ICECEK TURK AS
Uludag Icecek Turk A.S. (the "Borrower", the "Company", or "Uludag"), a limited liability company incorporated in the Republic of Turkiye.
EBRD Finance Summary
EUR 25,000,000.00
Total Project Cost
EUR 25,000,000.00
Additionality
The EBRD offers financing with long term tenor tailor-made to the Company's capex plan. The Bank will also help the Company to achieve higher energy and resource efficiency standards by committing the systematic monitoring, reporting and verification of climate mitigation and climate adaption benefits, leveraging the Bank's know-how in the area of MRV.
Environmental and Social Summary
Categorised B. Low risk (ESP 2025). Uludag is a current client and performance to date has been satisfactory in the context of existing projects. Environmental and social due diligence (ESDD) was undertaken ESD. The new project entails investments in production lines and maintenance which are considered lower risk from an E&S perspective. Energy efficiency is a key focus of the project and incorporates advanced technology which reduces energy and water consumption. The Company has in place necessary permits and approvals, and they have several management systems in place, including ISO 14001, 45001, 9001, and 22000, covering environmental and quality, health and safety, and food safety management systems. Contractors will be employed for the project and the Company includes provisions in the contractor agreements, training, audits, and performance assessments to ensure that environmental, social, and labour standards are upheld. Given the above, and given the previous execution of the agreed ESAP, no additional actions are required of the Company.
