- EBRD provides €75 million loan to Turkish polyester manufacturer SASA
- Loan to finance state-of-the-art PTA facility investment in Adana
- SASA to improve its corporate climate practices
The European Bank for Reconstruction and Development (EBRD) is providing a €75 million loan to SASA Polyester Sanayi A.Ş. in Türkiye to finance an investment in its purified terephthalic acid (PTA) facility in Adana.
The financing will be used to implement a state-of-the-art PTA facility with an annual production capacity of 1.6 million tonnes. It will also allow the company to integrate its operations and introduce operational improvements that will boost competitiveness.
Once the facility has been completed, SASA will be able to produce polyester products without having to import PTA – a raw material commonly imported from Asia. The plant will be able to produce enough PTA to satisfy its current raw-material demand, while leaving excess product for export.
The loan will also enable SASA to introduce advanced corporate climate governance practices, in line with the EBRD's Green Economy Transition (GET) approach.
Hande Islak, EBRD Deputy Head of Türkiye, welcomed the transaction, saying: “This project represents a significant moment not only for SASA’s green credentials, but also for its vision of becoming an important regional player. I am confident that our partnership will strengthen the company’s path to sustainability and ensure further opportunities for growth, rendering SASA a key player in its industry.”
Şakir Sabri Yener, CFO of SASA, stating; “As we place great emphasis on this Project in terms of our country and company, we continue efforts to sustain zero carbon emissions and to reduce the effect of global climate change in line with our environmentally sensitive priorities, as well as to ensure economic growth with the guidence of our vision. In the journey of making contribution to a brighter future, EBRD’s presence on this Project is a great milestone for SASA and our country to reach common sustainability goals.”
SASA is a joint stock company that produces polyester staple fibres, filament yarns, polyester-based and specialty polymers, and intermediates. The majority of SASA’s shares are owned by Erdemoglu Holding, a Türkiye-based textile and carpet company.
The EBRD is a leading institutional investor in Türkiye. Since 2009, the Bank has invested almost €17 billion in various sectors of the country’s economy, almost all of it in the private sector.