Tiryaki II

completed

The proposed project involves the refinancing of the existing working capital facility of the agricultural commodity trade and supply chain manager Tiryaki Agro Gida Sanayi ve Ticaret A.S. (the “Company” or “Tiryaki”) and financing incremental working capital needs required for the Company’s growth in operations at an estimated cost of US$300 million (the ‘Project’). IFC considers providing an A loan of up to US$40 million from its own account. Tiryaki is a family owned private Company which is engaged in sourcing, processing, storage and trading of conventional and organic grains (wheat, barley and corn), pulses (lentils, chickpeas, peas, beans, rice and bulgur), oil seeds (sunflower, sesame, canola and soybean) and nuts (pistachio, almonds, walnut and peanuts) across Europe, Africa, the Middle East, CIS countries, Indian subcontinent and North America. The Company is headquartered in Istanbul and has a substantial presence in Turkey by operating plants across the country, including processing facilities in the city of Gaziantep, alongside its international trade presence. Tiryaki is an existing IFC client and the project “Tiryaki” (#28467) is at supervision stage. Considering that Tiryaki II is a capital investment and there is no new and/or specific facility or structure to be built up within the scope of this Project, it is considered as integration to the existing project of Tiryaki.Tiryaki Agro’s operations is mostly concentrated in Gaziantep, including the sourcing, processing, storage and trading of grains, pulses, oil seed and nuts with the capacities of 240 mt/day pulses, 400 mt/day bulgur, 480 mt/day lentils, 250 mt/day packaging for retail and 1200 mt/day for bulk products, 25 mt/day pistachio and 92,000 mt storage. Mersin plant is established on an area of 170.000 m2 and is composed of processing units, storage facilities and horizontal and vertical silos. The plant is located in 2nd part of Mersin Tarsus Industrial Zone at a distance of 18 km to Mersin Port. Some of the commodities that will be stored in the plant are paddy, lentil, pulses, peas and beans. Total capacity is 380.000-400.000 tonnes with horizontal silos of 100.000 tonnes and vertical silos of around 300.000 tonnes. The processing units will be typically composed of pre-screening, peeling, screening, glazing and calibration. Chemical (protein, gluten etc.) and physical (screen, humidity etc.) analyses of the commodities are conducted in the laboratory facilities after arrival of goods. For logistics of products, railway, motorway and seaway will be used. The nearest railway to Mersin Industrial Zone is at Taskent (3800 m distant), however project for railway construction is underway for the Organized Industrial Zone.