INDUSTRIAL MARKET 11
largest and Turkeys only acrylic fiber producer with a capacity of 315
000 tons per year. Aksas fibres and filaments are woven into synthetic
fibre cloth, blankets, carpets and knitted wear and are sold domestically
The loan will finance the development of new products and will en-
hance energy and resource efficiency at Aksas production plant in Yalo-
va, in north-western Turkey. The financing will support an ambitious in-
vestment programme to boost the companys overall competitiveness at
home and abroad.
The new financing comes under the A/B loan structure and includes
USD 50 million on the Banks own account (provided in US dollars and
Euros) and EUR 30 million and USD 10 million syndicated to ING and
the Bank of Bahrain and Kuwait, respectively.
The EBRD is a major investor in Turkey. Since 2009 it has invested
EUR 10 billion in various sectors of the Turkish economy, with almost all
investment in the private sector. In 2017 alone, the bank invested EUR
1,6 billion in 51 projects, signifying EBRDs commitment to mobilizing
foreign financing to the Turkish economy. It also marks the first transac-
tion with the bank of Bahrain and Kuwait, or BBK, and a strengthening of
cooperation with ING Group, one of the EBRDs largest co-financiers.
Enhancing the competitiveness of Turkeys major industrial players
such as Aksa, especially through greater resource efficiency, is among
the EBRDs priorities in the country.
New financing for Bulgaria’s Biomashinostroene
The EBRD will finance Bulgarian Biomashinostroene with EUR 4,5 mil-
lion loan. The company will invest the funds to expand its operations.
Biomashinostroene is a leading Bulgarian manufacturer specialized in
design and production of technological equipment for the food-process-
ing, pharmaceutical and chemical industries. The main products in Bio-
mashinostroenes range are tanks, apparatuses, and tube-in-tube heat-
exchangers made of stainless steel. Biomashinostroene exports more
than 90 percent of its products to over 20 countries in the European
Union and the Middle East. It supplies the worlds largest engineering
companies such as Tetra Pak and GEA and top multinational food com-
panies such as Nestle and Ferrero.
Biomashinostroene is boosting its manufacturing and storage capac-
ity with the loan. The company is investing in three new assembly
workshops and warehouses in order to meet the growing demand for
its machinery. The loan will help optimize the manufacturing process
and enable simultaneous work on several orders of large, complex
equipment. With new companys investment programme, production
and sales are expected to increase by 50 per cent over the next six
We have seen Biomashinostroene develop from a state-owned enter-
prise, specializing in manufacturing of biotechnology equipment, to a
modern privately owned company offering cutting-edge technology to
global players in the food and pharmaceutical industries. Our previous
loan to the company has delivered excellent results and it is with great
pleasure that we provide new financing to further boost this exemplary
exporter, according to EBRDs President Suma Chakrabarti.
President Chakrabarti also welcomed Biomashinostroene to the
EBRDs Blue Ribbon programme. The programme combines busi-
ness advice and finance for companies that stand out for their mar-
ket leadership and high-growth potential. It currently includes 24 com-
panies in 15 countries where the Bank invests. Biomashinostroene is
the first Bulgarian company to join the programme, thanks to the
firms solid business strategy, strong management and high quality
The EBRD is a leading institutional investor in Bulgaria. It focuses on
enhancing the competitiveness of the private sector, strengthening the
financial sector and narrowing the infrastructure gap. To date the Bank
has invested EUR 3,7 billion in 248 investment projects in the country.