- EBRD provides €15 million loan to Türkiye’s Akkim Kimya
- Loan to finance establishment of first local epoxy resin manufacturing plant
- Financing to allow Akkim to diversify customer base in new sectors
The European Bank for Reconstruction and Development (EBRD) is providing a €15 million loan to Akkim Kimya Sanayi ve Ticaret A.S. (Akkim) in Türkiye to finance the establishment of the first local epoxy resin manufacturing plant at its premises in Yalova.
The proceeds of the loan will enable Akkim to produce liquid epoxy resin (LER), solid epoxy resin (SER) and epichlorohydrin (ECH), with an annual production capacity of 68,000 tonnes. Once the plant is completed, Akkim will become the country’s first producer of epoxy resin, of which up to 50,000 tonnes are imported each year.
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.
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