Rönesans Holding, certainly one of Türkiye’s largest contracting and investment conglomerates, has closed the financing to progress the development of a new polypropylene (PP) manufacturing plant and terminal facility, with a view to be considered one of the largest private sector investments in Türkiye.
This project, worth $2-bn, is made from two distinct components financed separately inter national financiers.
The first is the PP manufacturing plant in Ceyhan, being evolved by Röne sans and Algerian state-owned oil enterprise, Sonatrach (as a shareholder and feedstock provider), with an manufacturing capacity of 472,500-tpa, meet in more or less 17% of Türkiye’s PP demand. The PP manufacturing plant objectives to acquire the world’s lowest GHG emissions in keeping with tons of PP produced globally, advantage from 100% renewable electricity and excessive-performance production techniques. The second element is the terminal facility, on the way to be evolved in partnership with Norway based Stolt-Nielsen’s global bulk liquid storage business, Stolthaven Terminals, and provide jetty and feedstock storage services for the brand new plant and different feasible future customers.
The venture have collectively attracted sturdy global financial backing with a loan package totaling $1.3-bn, led with the aid of America International Development Finance Corporation (IDFC) for the PP manufacturing plant and Spain’s Export Credit enterprise for the PP manufacturing plant and terminal, underscoring the venture’s international importance. Türkiye is one of the world’s biggest PP importers. Recently, the overall annual PP consumption in Türkiye is approximately 2.7-mt, with domestic manufacturing capable of deliver simplest around a 100,000-tonnes of material to the market. The Ceyhan PP manufacturing plant might be strategically placed in Türkiye’s DAPEK Industrial Zone, supplying logistical and financial benefits that are set to help the local financial economy and reduce Türkiye’s alternate deficit by using approximately $300-mn annually.
