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IFC Invests $50 Million in Küçükçalık Tekstil

The International Finance Corporation (IFC), a member of the World Bank Group, has announced a $50 million investment in Küçükçalık Tekstil Sanayi ve Ticaret A.Ş., a home textile manufacturer operating in Turkey and Egypt.

According to the financing statement, the investment aims to help the company increase its production capacity and enhance its sustainability practices. It is expected that the investment will generate approximately 700 new jobs.

Yaşar Küçükçalık, Chairman of Küçükçalık Group, stated, “This partnership will expand our production capacity while also increasing our commitment to sustainability.”

Wiebke Schloemer, IFC’s Director for Turkey and Central Asia, said, “This investment will boost Turkey’s competitiveness in synthetic fabric production.”

Over the past decade, IFC has invested more than $20 billion in Turkey.

As part of its expansion, Küçükçalık Tekstil plans to establish a new polyester chips production facility, expand its yarn spinning plant, and build a textile recycling facility in Sakarya. Additionally, solar panel installations will be implemented at the company’s production unit in Bursa.

Source: https://www.bloomberght.com/ifcden-kucukcalik-tekstil-e-50-milyon-dolarlik-yatirim-3737076 written by İlayda Gök

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