- Loan to Polinas to improve green credentials
- Demand for greener packaging remains high worldwide
- Project to enable resource and energy efficiency, solar investments
The European Bank for Reconstruction and Development (EBRD) is providing a €25 million loan to Türkiye’s Polinas Plastik to finance the company’s capex investments, which include resource- and energy-efficiency measures in the production line and solar panels.
The proceeds of the loan will enable the installation of and support for a new production line for biaxially oriented polypropylene (BOPP) film, as well as the purchasing of new machinery and investments in solar panels.
Through the project, Polinas will reduce its carbon emissions by increasing the use of renewable energy and boosting the production of fully recyclable packaging material that is capable of using both recycled content and bio-based content.
In the flexible plastic packaging industry, demand for materials with recyclability and recycled content continues to rise as climate measures come to the forefront for brands, particularly with regard to the carbon impact of their packaging.
Among Türkiye’s leading producers of flexible food packaging, Polinas is one of the oldest and an important regional player in the sector. The company exports its products to more than 50 countries.
The BOPP, BOPET (biaxially oriented polyethylene terephthalate) and other films that Polinas produces mainly serve the food sector and play a key role in food safety by protecting foodstuffs throughout the supply chain.
In addition to the company’s green goals, the loan will bolster the diversity and inclusion credentials of Polinas, supporting the employment of women in the manufacturing sector, where women’s participation is only around 27 per cent. Polinas will work to boost the number of women it employs and commit to improving its diversity practices.
The company is 99 per cent owned by Gözde Girişim, the private equity arm of Yıldız Holding.
The EBRD is among Türkiye’s key investors, with more than €20 billion invested through 450 projects and trade finance limits since 2009, most of it in the private sector.