Unye Cement

completed

Summary Of Project Information (SPI)Project Name:TURKEY: Unye CementRegion:EuropeSector:Project No:009499Projected Board Date:June 30, 1999Company Name:Unye Cimento SanayiTechnical Partner and/or Major Shareholders The project sponsor is Unye Cimento Sanayi ("Unye" or "the Company"), an integrated cement mill located in the Eastern Black Sea coast of Turkey. The company is publically traded with the majority shareholder being OYAK, a pension fund for the officers of the Turkish Armed Forces. Unye began operations in 1969 and has grown to become the largest cement plant in the Eastern Black Sea coast of Turkey. Project Cost Including proposed IFC investment Total project cost is estimated at US$85.2 million including IFC senior loan of up to US$25 million.Location of project and Description of site The Company, located in town of Unye, is an integrated pulp and paper mill. The site is positioned on the hill above the town and above the Black Sea coast. Description of Company and Purpose of Project The project involves investments to expand Unye''s clinker manufacturing capacity, improve the plant''s environmental standards, reduce production costs, debottleneck the plant''s operations, and help the Company meet the increasing regional demand. The proposed project is in the Black Sea region of Turkey, a less developed region, where IFC’s investment would have a substantial impact on the economic development of the region. The Project will boost competition, which will result in better quality cement and lower prices. In addition, the project will have an important environmental component which would enable the Company to comply with all IBRD guidelines upon project completion.Environmental Category and Issues This is a category B project according to IFC''s environmental and social review procedure. Environmental and social issues associated with this project include: air emission control, management of solid waste and liquid effluents, sustainable raw material supply (quarry operations), and employee health and safety. The project includes upgrades with electrostatic precipitators to control dust emissions, and is carried out as an upgrade of an existing operation without expanding the plant area.The is available from the InfoShop.Date SPI sent to InfoShop: May 28, 1999“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 974-4384Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).