Project number:


Business sector:


Notice type:


Environmental category:


Approval date:

16 Nov 2004



PSD disclosed:

15 Oct 2004

Project Description

Financing Ulker group’s expansion in the Romanian market by establishing a new production base to manufacture biscuits, chocolate, bullion and margarine products.

Transition Impact

The project has good transition impact potential. The project will:
  • Improve linkages in the food supply chain:  The main raw materials for the new production lines in Romania will be sourced from several local producers. Local suppliers will be subject to the Sponsor’s quality controls. The project will also have a positive impact in the modernisation of the distribution channels, and expanding the number of distributors/retailers worked with. This will make possible a transfer of know-how in respect of marketing, merchandising and logistics.
  • Introducing greater competition and innovation. The project will increase the competitive pressures over the existing players via the increase in the volume and range of products produced.
  • Involve corporate governance improvements.

The Client

The Sponsor of the project is Yildiz Holding A.S., the holding company of the Ulker Group of Turkey which is the largest food company in Turkey.

EBRD Finance

Senior secured loan: US$ 8.9 million to Eurex Alimentare

Project Cost

US$ 21.8 million

Environmental Impact

This project was screened B/1 requiring an environmental audit and analysis of the plant.  The study was conducted by an independent environmental consulting firm and the resulting reports and recommendations were submitted to the Bank for review.  
The Eurex Alimentare plant is currently 80% complete and has not yet started operation.  The consultants reviewed the existing facilities and the plans for future operations.  They concluded that the finalised facility will not have a significant environmental impact, will incorporate a number of features to minimise its environmental footprint including the installation of a waste water treatment plant and a gas fired boiler.  The facility will meet both national and applicable EU standards and has received the environmental authorisation in accordance with Romanian law.  An EAP has been developed to ensure that the facility meets good environmental practice and legislative requirements on an on-going basis.

Technical Cooperation


Company Contact

Ender Bolat (General Manager)
Eurex Alimentare S.R.L
Str. Pitar Mos, nr. 29, ap. 11, Bucuresti
Tel: +40.21.3038297
Fax: +40.21.2128395

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

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