Çimsa Signed a 25 Million Euro Decarbonization-Focused Financing Agreement with EBRD
Çimsa, the global brand of Sabancı Group, signed a new loan agreement worth 25 million Euro with the European Bank for Reconstruction and Development (EBRD).
Çimsa allocated this loan to finance energy and efficiency investments in its path to sustainability.
The loan will be used to finance the Solar Power Plant (SPP), Waste Heat Recovery (WHR) systems and other sustainability investments at Çimsa’s Eskişehir Plant. EBRD has provided financing to a cement company for the first time in Türkiye with this agreement.
Çimsa CEO Umut Zenar made a statement regarding the loan agreement as follows: “As Çimsa, we are taking important steps towards achieving our sustainability goals. This financing agreement with EBRD will support our energy and efficiency investments by contributing to our environmental sustainability goals. The €25 million loan will not only support investments in our solar energy and waste heat recovery facilities, but also improve our operational efficiency. We are proud to be the first cement company in Türkiye to receive this kind of financing from the EBRD, which reflects our commitment to lead the industry in sustainability initiatives. The collaboration of the EBRD is an important indicator of Çimsa’s decarbonization path and commitment to sustainability in the industry, and as a partner supporting this vision.”
This agreement with the EBRD represents an important step towards reducing environmental impact and increasing energy efficiency as part of Çimsa’s sustainable growth strategy. In addition, Çimsa, which has been a leader in the sector with projects developed for women’s employment to date and become the only building materials company in the world to be ranked in the top 100 in the Refinitiv International Diversity and Inclusion Index.
The EBRD has been a major investor in Türkiye since 2009 having invested more than €19.8 billion in the country through 442 project and trade finance limits, mostly in the private sector.
