The Black Sea Trade and Development bank (BSTDB) has provided a 7-year Euro 75 million loan to the Turkish Hayat Kimya Group for the construction of a new factory in Kaluga, Russia, producing cleansing tissue and towel paper. The total project cost is Euro 134.5 million.
Hüseyin Okur, Hayat Kimya Group Vice President, Finance, said: “It is a great pleasure for us to be partnering once again with BSTDB, this time for our new investment in Kaluga, Russia, which will be the third cleansing tissue and towel paper factory of our Group in Russian Federation. We believe that this strong partnership will develop further and enable us to make new investments in the future, effectively contributing to the transition process of the BSTDB Member States like Russia and Turkey towards the economic prosperity of the people of the region.”
Established in 1937, Hayat Kimya is mainly engaged in production of detergent, hygiene and tissue products and, currently, maintains its Turkish production activities at two facilities located in Kocaeli and Mersin in Turkey.