IFC helps Turk­ish Co to re­cover waste water

The Pak Banker - - 6BUSINESS -

IFC, a mem­ber of the World Bank Group, is pro­vid­ing an $ 8 mil­lion loan to help Mod­ern Kar­ton, a lead­ing Turk­ish pa­per com­pany, build a waste water re­cov­ery sys­tem that will re­duce busi­ness risk and in­crease re­source ef­fi­ciency.

IFC’s loan, made through its Cleaner Pro­duc­tion Lend­ing Fa­cil­ity (CPLF), will en­able the com­pany to con­serve and re­use thou­sands of gal­lons of water each year and, as a re­sult, in­vest in a new pa­per ma­chine with­out the use of a deep drill to gain ac­cess to water. Mod­ern Kar­ton op­er­ates in a water stressed area, where lim­ited ground­wa­ter avail­abil­ity is be­ing ex­ac­er­bated by cli­mate change. To­day the com­pany must drill as far as 130 me­ters deep to ac­cess water, com­pared to 30 me­ters in the past.

Water is a key in­put for the pa­per in­dus­try, said Ah­met Eren, Chair­man of Eren Group, the par­ent com­pany of Mod­ern Kar­ton.

Guy El­lena, IFC Di­rec­tor for Man­u­fac­tur­ing and Ser­vices in Europe, the Mid­dle East and North Africa said this project will help Mod­ern Kar­ton make a strate­gic in­vest­ment to im­prove its re­source ef­fi­ciency and sup­port the com­pet­i­tive­ness of the com­pany.

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