Odile Renaud-Basso, Chairwoman of the Board of Directors of the European Bank for Reconstruction and Development (EBRD), met with SASA Polyester officials and visited the company's facility under construction in Adana. In addition to the 590 million-euro loan it had received from JP Morgan for the financing of the purified (PTA) production investment under construction in Adana, SASA Polyester had signed a 75 million-euro loan agreement with the European Bank for Reconstruction and Development (EBRD) in the same package.
When completed, the investment will decrease Turkey's foreign dependence on petrochemical production and provide import substitution. PTA is a petrochemical product used as raw material in the production of polyester polymers (such as polyester fiber and yarn, PET bottles, and films).
The PTA investment, which will reach up to 1 million 750 thousand tons when operated at full capacity, will be the largest production facility in this field in Turkey and the nearby region. Thanks to the cutting-edge technology used in the investment, the heat coming out during production will be sufficient to provide the electrical energy required by the facility. In this respect, as an environmentally friendly investment, it is in line with EBRD's environmental, social, and governance (ESG) based priorities.
As a result of the evaluation conducted under the headings of Environmental, Social, and Governance by the international EMS risk rating agency Sustainalytics, SASA ranked 6th among 561 chemical companies across the world in June 2023. Concerning the issue, SASA company officials stated that they aim to continue their collaboration with EBRD on a larger scale in the future and that the visit of EBRD President Renaud-Basso is important in that context.
Source of News: ekonomim.com
Link to the News:https://l24.im/wdM8
