Translated version of this PSD: Turkish
The EBRD will provide a loan of €50 million to Doğuş Çay ve Gıda Maddeleri Üretim Sanayi Ticaret A.Ş, (the “company” or “Dogus Cay”), one of the leading packaged tea and chips producer in Turkey. The loan will finance the company’s 2015-16 investment programme aimed at expansion of its product range and refurbishing, additional working capital needs and extension of maturity of existing loans (the “project”).
The project’s transition impact is expected to derive from setting standards for corporate governance, business conduct and market expansion. Specifically, with the EBRD’s support, Dogus Cay will improve its corporate governance standards, environmental efficiency and resource efficiency. Dogus Cay will also further develop its supply chain relationship with local farmers leading to backward linkages in central Anatolia.
Dogus Cay is a family-owned company and is one of the leading packaged tea producers and also has a significant market share in the chips and snacks segment in Turkey.
Up to €50 million.
Up to €50 million.
Environmental and social categorisation, impact, and mitigation
Categorized B according to the Environmental and Social Policy (ESP) 2014: The project is associated with standard environmental, health & safety, and social impacts typical for the food sector. The EBRD’s Environmental and Social Department has undertaken in-house due diligence focusing on the review of the corporate environmental, health, safety and security (EHSS) and human resources management systems, regulatory compliance status, supply chain management and associated EHSS aspects and risks. It was established that the company is generally in compliance with the requirements of the EBRD's ESP. The company has well-established EHSS management system and capacity to comply with the Bank’s performance requirements throughout the project implementation. The potential adverse impacts are mainly associated with labour and safety, supply chain management, social aspects, water and wastewater management and these can be easily mitigated. Environmental and Social Action Plan aimed at addressing the identified EHSS gaps was developed and will be agreed with the client prior to the project approval by the Bank’s Board of Directors.
For Category A projects, this section will need to be updated on an annual basis.
The Bank intends to support Dogus Cay in its effort to optimise the use of resources across the production processes and resource intensive systems. As part of the project, EBRD has arranged a resource efficiency audit within the Energy and Resource Efficiency Programme for the Corporate Sector funded by the EU’s Instrument for Pre-Accession Assistance.
Coskun Samer, email@example.com
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