Finance

Şişecam receives $70 million from IFC Hurriyet Daily News ISTANBUL - The International Finance Corporation, the private sector financing arm of the World Bank Group, has announced it will provide $70 million funding for Şişecam, Turkey’s largest glass factory. Şişecam has a 90 percent market share in Turkey. The firm will use the money to invest further in its factories in Turkey and Bulgaria. The project includes investments implemented to produce low-iron solar power glass as well as improving the environmental impact and energy efficiency. "Şişercam’s competitive power will increase via these investments that aim to reduce carbon emissions," said IFC's Director for Southern Europe and Central Asia Shahbaz Mavaddat. "IFC, which has been in a long-standing relationship with Şişecam, has once again proved its confidence in our company," said Doğan Arıkan, president of the Şişecam Group.

30 Haziran 2009