Translated version of this PSD: Turkish
The EBRD is considering a long-term loan of up to EUR 30 million to Uludag, one of the leading branded soft drinks producers in Turkey. The loan will finance the company’s 2014-2015 investment programme including the launch of new production lines and energy efficiency improvements (the “project”).
The project’s transition impact is expected to derive from setting standards of corporate governance and business conduct as well as demonstration of new processes. Specifically, with the EBRD’s support Uludag will improve its corporate governance standards, environmental and resource efficiency and set standards in product traceability. Uludag will also invest in innovative technologies improving the quality and lifespan of its products.
Erbak Uludağ İçecek A.Ş.
Up to EUR 30 million loan for the account of EBRD
Approximately EUR 30 million.
Categorised B. The impacts associated with the activities of the company are site specific and can be readily addressed through appropriate mitigation measures. Due diligence on the project included a review of written submissions provided by the company and site visits to the company’s production facilities by specialists from the Bank.
As a producer of mineral water and soft drinks the company is not associated with significant environmental, health or safety risks. Key issues include water sourcing and use, energy use in production, waste water treatment and disposal, management of solid wastes, human resources management, and local community issues. The company has appropriately qualified staff in place operating a total quality management system including certifications to ISO 9001, ISO 22,000, and BRC. The company is also in the process of achieving compliance with ISO 14001 and OHSAS 18001 and it is anticipated that these will be completed by end 2015. In terms of HR the company has undergone a fundamental re-organisation of its approach to HR issues which is reflected in both the organisation of the company and the policies and procedures applied to HR management. The aim of the company in this respect is to continue the development of the HR function to meet best international practice. Health and safety management starts with a risk based approach covering worker safety, hygiene and food safety issues. Again, qualified staff are in place to manage these issues effectively. Annual action plans for H&S issues are developed and appropriate training is provided to staff to H&S issues. The two production facilities of the company are not associated with any local community impacts and the company has a number of channels in place for communication with key stakeholders.
A limited number of environmental and social actions have been identified through the due diligence process and these will be formulated into an environmental and social action plan to be agreed with the Company. The Company will be required to provide annual reporting on key environmental and social issues and on the implementation of the ESAP.
Gürhan TUTLU, CFO
Buttim arkası Doğanevler Mah. (Kanalboyu) No:33 Osmangazi / Bursa
(T) +90 224 738 16 00
For business opportunities or procurement, contact the client company.
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
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