IFC, the private sector arm of the World Bank Group, has signed an agreement with Sarten, Turkey’s largest manufacturer of metal and plastic packaging, to modernise its plant.
The US$20mn loan will help the company upgrade its equipment and streamline its operations, reducing bottlenecks and increasing efficiency.
Zeki Saribekir, CEO of Sarten, says, “Our investment programme supports our strategy to continue improving the quality of our products and the level of service we provide to our clients. We are pleased that IFC will support us on this program.”
Shahbaz Mavaddat, IFC Director for Southern Europe and Central Asia, adds, “Sarten’s investment programme will help strengthen Turkey’s packaging industry and have a significant developmental impact in the country.”