Summaries of proposed guarantees are provided prior to Board consideration and before final contract signing, and they are therefore subject to change. Project briefs are disclosed after Board consideration and contract signing and reflect the terms of the project at the time of contract signature. Environmental and Social Review Summaries are provided for projects assigned an Environmental Assessment Category of A or B.
- Project name
- Turkmenistan Coca-Cola Bottlers Ltd.
- Project ID
- Fiscal year
- Not Active
- Guarantee holder
EFES Sinai Yatirim Holdings A.S.
- Investor country
- Host country
- Environmental category
- Gross exposure
- $8.0 million
- Project type
In its first project in Turkmenistan, MIGA issued a guarantee for $8 million to EFES Sinai Yatirim Holdings A.S. for its equity investment to expand and modernize a soft drink bottling facility in Ashgabat. The guarantee covers the investment against the risks of expropriation and war and civil disturbance.
The project will transform the existing manufacturing plant into a state-of-the-art soft drink bottling facility by constructing and installing new infrastructure and equipment. The project enterprise, Turkmenistan Coca-Cola Bottlers Ltd. (TCB), will bottle, distribute, and sell soft drink products and its efficient distribution system will benefit local distributors, restaurants, and small businesses.
The TCB's production plant will benefit from substantial transfer of technical and managerial expertise. Extensive training in modern manufacturing techniques, sales, marketing, management, and distribution of soft drink products will be offered onsite in Turkey and Moscow. The plant will create approximately 180 jobs for local citizens and TCB will likely pay $2.8 million annually in taxes. Water and carbon dioxide needed for the product will be procured locally.