Turkish juice company Anadolu Etap gets EUR50m loan from EBRD
Turkish fruit and juice company Anadolu Etap has secured €50m loan from European Bank for Reconstruction and Development (EBRD) to expand its operations.
The fruit and juice company will use the loan to invest in modern fruit processing machinery and equipment as well as expand processing capacity.
Part of the loan will also be used development of packing facilities and the creation of the first new fruit brand in the country called Doal.
The loan will also fund investments in new fruit farms and development of the domestic fruit market.
EBRD is expecting that the loan will help in enhancing the skill level levels and expertise in the Turkish farming industry as well as help in rural development and gender equality.
Training will be provided to farmers as part of a technical assistance programme to improve their skill level, especially the women farmers. It will help the company in sourcing high quality raw material for its juice products.
EBRD director for Turkey Jean-Patrick Marquet said: “With this investment we are supporting Turkey’s farming industry, helping to improve competitiveness in the private sector, promoting good corporate governance standards and working towards greater gender equality in the Turkish economy.”
Anadolu Etap is involved in fruit farming, production of fruit juice concentrates and purees and the sale and distribution of fresh fruits.
It is a joint venture between Anadolu Group, Özgörkey Holding and Cutrale Group. The company looks to become a leading fruit juice and fresh fruit company.
Anadolu Etap CEO Demir Sarman said: “We are confirming and strengthening our belief in the Turkish economy and agricultural industry with this loan and we will confidently advance towards achieving our goals.”
Image: The loan will be used for deployment of high-tech machinery and equipment. Photo courtesy of EBRD.