DenizBank AG plays key role in financing landmark $2 Billion Polypropylene Production Plant and Terminal Project
- DenizBank AG plays a key role in one of the largest ECA (Export Credit Agency) financing projects
- The project, which is characterized by sustainable technologies and strategic partnerships, promotes industrial self-sufficiency and creates thousands of jobs
- The overall financing is one of the largest industrial investments ever made by the private sector in Turkey
- Trade finance expertise supports international growth and demonstrates DenizBank AG's strong commitment to sustainable finance
DenizBank AG, which is based in Vienna and has branches in Austria and Germany, is proud to announce its significant participation as a key financial partner in the landmark $2 billion polypropylene (PP) production plant and terminal project led by Rönesans Holding in Türkiye.
This project stands as one of the largest private sector industrial investments in Türkiye’s history and is set to substantially boost the country’s industrial self-sufficiency and global trade competitiveness. DenizBank AG, alongside other prominent international lenders forms part of a consortium providing a $1.3 billion loan package for the financing of the PP production plant and terminals.
This part of financing effort is guaranteed under the coverage of Spain’s Export Credit Agency (CESCE), highlighting the project’s global importance and the confidence of international financial institutions in Türkiye’s industrial growth potential.
Yearly Production Capacity of 472,500 Tons
The polypropylene production plant, developed in partnership with SONATRACH, Africa’s largest oil company, will have an annual production capacity of 472,500 metric tons, meeting approximately 17% of Türkiye’s PP demand.
The project is strategically located in the DAPEK Industrial Zone, promising significant logistical advantages and economic benefits, including an estimated $300 million annual contribution to Türkiye’s balance of payments. It is also expected to generate up to 4,500 construction jobs and 300 permanent jobs, reinforcing DenizBank AG’s commitment to supporting sustainable economic development.
“Our participation in the financing of this transformative polypropylene production plant underscores DenizBank AG’s commitment to supporting projects that drive sustainable economic growth and industrial innovation in Türkiye and beyond,” says Sema Berger, Group Head of Financial Institutions and Trade Finance at DenizBank AG.
Trade Finance Expertise Supporting International Growth
DenizBank AG last year also provided €67 million financing for Shotton Mill in Deeside, Wales - a state-of-the-art containerboard and tissue plant with 750,000 and 68,000 tons annual capacity respectively, making it the
UK’s largest and most efficient facility. Part of a €1.3 billion project and backed by UKEF, SERV, and Finnvera, this investment was the largest foreign direct investment in Wales and classified as a Green Loan.
DenizBank AG’s involvement in these projects is a testament to its comprehensive
expertise in trade finance. The bank offers a wide range of trade finance solutions tailored to facilitate safe and efficient international trade, including letters of credit, documentary collections, bank guarantees, and buyer credits. DenizBank AG’s status as a house bank enables it to secure financing through state-supported export credit agencies, providing clients with competitive financing conditions and risk mitigation.
Moreover, DenizBank AG’s strategic partnership with
Komgo, a leading trade finance technology provider, enhances the bank’s operational capabilities by delivering innovative, digital solutions that increase transparency, security, and compliance in commodity trade finance. This partnership allows DenizBank AG to offer transactional, borrowing base, and structured commodity trade finance products that help clients optimize cash flow and manage risks inherent in international commodity trading.
About DenizBank AG
DenizBank AG was founded in 1996 and is subject to the Austrian Banking Act. The bank is a member of the statutory uniform deposit protection scheme AUSTRIA GmbH. DenizBank AG is part of the DenizBank Financial Services Group, which has been owned by the Emirates NBD Group since 2019. The Emirates NBD Group's network includes locations in 13 countries, currently serving more than 20 million customers.
In 2024, DenizBank AG achieved an annual profit of EUR 161.39 million with a balance sheet volume of EUR 6.30 billion, which underlines the bank's solid financial foundation.
Press Contact:
Armand FekaGroup Head of Corporate Communications
& Marketing
DenizBank AG
Thomas-Klestil-Platz 1 A-1030 Wien
Tel: +43 664 8556630
E-Mail
Legal Notice:
This is a marketing communication prepared for non-binding information purposes. It is not a financial analysis and does not constitute investment advice or an offer or recommendation or an invitation to make an offer to buy or sell financial instruments, investments or other banking services. This information is not a substitute for personal advice and risk disclosure. It is expressly pointed out that financial instruments and investments sometimes involve considerable risks. The information contained in this document is of a general nature and does not take into account the individual needs of investors and customers, for example with regard to income, financial or tax situation, risk tolerance or individual suitability of banking services. This information has been carefully prepared by DenizBank AG to the best of its knowledge and belief. However, it has not been checked and verified by an independent third party; therefore, no guarantee is given with regard to the accuracy, completeness or correctness of the information and opinions contained herein. Errors and misprints excepted.
