EBRD invests in Turkey’s first epoxy resin facility with €15 million loan to Akkim Kimya
(PRESS RELEASE) LONDON, 5-Jan-2023 — /EuropaWire/ — The European Bank for Reconstruction and Development (EBRD), a multilateral developmental investment bank, has announced that it is providing a loan of €15 million to Akkim Kimya in Türkiye to finance the establishment of the country’s first local epoxy resin manufacturing plant. The plant will produce liquid epoxy resin, solid epoxy resin, and epichlorohydrin with an annual production capacity of 68,000 tons. Once completed, Akkim will be the first producer of epoxy resin in Türkiye, where up to 50,000 tons are imported each year. The financing will allow Akkim to diversify its customer base in new sectors.
By replacing propylene with glycerol as the main raw material in ECH production, the new facility will contribute to the circular economy via the use of renewable feedstock (glycerol is a by-product of bio-diesel production) and reduce the environmental impact of conventional ECH production from fossil resources, and widen the biodiesel value chain across the region.
Incorporated in 1977 in Yalova, Akkim manufactures and sells chemical products, serving the cleaning, hygiene, water treatment, textile, paper, construction, plastics, food, metal, energy, detergent, drilling, mining and chemicals industries.
The EBRD financing will allow Akkim to diversify its customer base in new sectors including aerospace, renewable energy and electronics.
The EBRD is a leading institutional investor in Türkiye. Since 2009 the Bank has invested more than €16.9 billion in various sectors of the country’s economy, with almost all investment in the private sector.
Media contact:
Tel: +44 207 338 7805
Email: press@ebrd.com
SOURCE: EBRD
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