10 million euro loan provided to Turkish manufacturer Bozankaya by the EBRD
Bozankaya, a Turkish producer of public transportation vehicles such as trams and electric buses, has partnered with Siemens to produce 22 four-wagon metro trains for Bangkok, Thailand.
The European Bank for Reconstruction and Development (EBRD) is providing a EUR 10 million loan to Bozankaya in order to finance the capital expenditure needed to fulfil this order. The finance will support the implementation of a robotic automated welding machine in Bozankaya Ankara plant and new facility to make the expanded production possible.
"Bozankaya is a pioneer in Turkey when it comes to environmentally-friendly electric buses and trams. Now, this partnership with Siemens is taking it to a new level. The company, its staff and the Turkish manufacturing sector as a whole will benefit enormously from the know-how that the leading global engineering company is bringing into this joint undertaking. We are pleased to play a role and wish the consortium the best of luck in future tenders across the globe", said Jean-Patrick Marquet, EBRD Managing Director for Turkey.
Aytunc Gunay Bozankaya, the chairman of the board of Bozankaya, said: "Our company designs and produces trams, electric buses and metros for the future. With this new landmark partnership with Siemens, and with the support of the EBRD, we will be flying the flag for Turkish engineering across the world."
Bozankaya is one more good example of EBRD’s role in supporting manufacturers in their move to strengthen the integration of the local economy with global markets.
"The EBRD’s financing for Turkish private sector companies, such as Bozankaya, makes them more competitive in global markets. Competitiveness is one of the six transition qualities the EBRD has identified in its approach to the countries where it invests, with environmentally friendly, resilience, governance, integration and inclusion the other key elements.
The EBRD started investing in Turkey in 2009 and currently operates from offices in Istanbul, Ankara and Gaziantep. The country is a top destination for the Bank’s finance, with EUR 1.9 bi-llion invested in 2016 alone.
To date, the Bank has invested over EUR 9 billion in Turkey through more than 220 projects across sectors and has mobi-lised nearly EUR 20 billion for these ventures from other sources of financing. Some 98 per cent of the Bank’s investments in Turkey are in the private sector", says the EBRD message.
LATEST issue 3/2019
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