Fintech PR
Assan Aluminyum invests further in sustainable technologies
ISTANBUL, March 4, 2024 /PRNewswire/ — Assan Alüminyum, a leading manufacturer of flat rolled aluminium, invests in sustainable technologies, in order to reduce its carbon footprint further, while expanding its production capacity. The company received a $90 million green loan from IFC to support its multi-year investment program to enable sustainable growth.
Assan Alüminyum, a subsidiary of the Kibar Group, continues its sustainable growth through a multi-year investment program. The program includes a brand new, energy efficient cold rolling line, as well as new continuous casting lines and improved filtration systems both for new and existing lines. Through these investments the company aims to enhance production efficiency through modernization, reduce its carbon footprint by increasing its share of renewable energy sources in energy consumption and boost its scrap aluminium usage in production, and ultimately expand its total annual production capacity by 60,000 tons. Upon completion of the investment program, the company aims to have the highest continuous casting capacity in all of Europe and Americas.
Assan Alüminyum received a green loan worth $90 million from IFC last year, which supports the company’s investment program to enable sustainable growth. The company developed a green finance framework that aligns with Green Loan Principles and Green Bond Principles, before receiving green financing. This framework sets forth distinct and measurable objectives while enabling the company to gain access to green financing tools to help bolster its expansion. IFC’s funding aligned perfectly with Assan Alüminyum’s green finance framework, constituting a 100% climate-focused investment.
Göksal Güngör, the General Manager of Assan Alüminyum noted, “We believe that aluminium holds a special place in the transition to a more sustainable future. Therefore, despite challenging market conditions, we will continue to invest in sustainable expansion. Sustainability is one of our core values at Assan Alüminyum, among reliability, flexibility and innovation. We are therefore fully committed to making our future plans in line with global sustainability principles and our sustainability motto of ‘producing the future, without wasting it’. Our goal is to lead the way in sustainability-driven activities and initiatives across our industry.”
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