ULUSOY UN SANAYI VE TICARET AS
Status: Approved investmentWhy disclosure?
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In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Ulusoy Un is one of the largest wheat-flour milling companies in Turkey, milling and selling flour domestically and for export to more than eighty countries. The Company purchases wheat in Turkey and from abroad and then processes it into flour in its milling facilities in the cities of Samsun and Çorlu/Tekirdağ. The Company is also engaged in trading of wheat, corn and soybeans in domestic and international markets.
What is our funding objective?
FMO’s funding will support the growth investments of Ulusoy Un, consisting of the construction of a new flour mill in Samsun, a major port city on Turkey’s Black Sea shore, as well as three licensed grain warehouses in various locations in Turkey. Most of the milling and storage equipment is made in Turkey.
Why do we fund this investment?
FMO supports an important agribusiness player that has linkages in the up-stream agricultural sector in Turkey. The project will help the country earn hard currency via export revenues. Ulusoy Un currently employs 250 people in its two flour milling facilities and warehouses and this number will increase to 300 following the completion of the project.
What is the Environmental and Social categorization rationale?
E&S risk categorisation is “B” (medium to low). IFC PS 1-4 are triggered. The project takes place in a dedicated industrial area with necessary provisions for environmental impact elimination. The company has several ISO certifications that serve as a backbone of its environmental and social management system. Company sources from highly mechanized producers of wheat, soy and corn from Eastern Europe and Turkey.
More investments
| Date | Total FMO financing |
|---|---|
| 12/15/2023 | USD 12.00 MLN |
| 12/13/2021 | USD 15.00 MLN |
| 12/13/2021 | USD 10.00 MLN |
- Region
- Europe & Central Asia
- Country
- Türkiye
- Sector
- Agribusiness, Food & Water
- Publication date
- 5/14/2018
- Effective date
- 9/10/2018
- Total FMO financing
- USD 18.00 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B