The European Bank for Reconstruction and Development (EBRD) is providing loans worth €110 million to Turkish glass manufacturer Trakya Cam A.Ş.
The loans are expected to expand its product range at home and in Bulgaria and also establish a presence on the Russian market, setting new standards in energy efficiency.
Trakya is a manufacturer of flat glass products with established works in Turkey, the Western Balkans, Russia and the Middle East and North Africa.
A €70 million loan to the company will be used mainly to finance the construction of a greenfield production plant for flat glass products in Russia’s Tatarstan region, as well as for energy efficiency investments in its Turkish operations.
With the help of the second loan of €40 million, Trakya will upgrade and expand the capacity of its subsidiary in Bulgaria which produces float glass and glassware. The subsidiary, Trakya Glass Bulgaria, is located near the town of Targovishte.
The financing for the Tatarstan factory will make an important contribution to efforts in Russia to reduce energy waste in buildings by increasing the supply of high-quality glass in a country with harsh winters and an ageing housing stock.