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- October 13, 202619°
- BIST10012,151-0.94%
- USD49.220.00%
- EUR55.21+0.28%
- GOLD4,195.90-0.48%
- INTEREST37.00%-1.00
- BITCOIN82,797-1.05%
- October 13, 202619°
GRT to establish its first advanced materials production hub outside China in Türkiye
The facility to be established in Türkiye will be GRT’s first production hub outside China and will manufacture energy-saving window films and low-emission materials. Ajay Bhushan Pandey, Vice President of the Asian Infrastructure Investment Bank, said the bank’s investment volume in Türkiye had reached $9 billion across approximately 40 projects.
The facility to be established in Türkiye will be GRT’s first production hub outside China. The facility will produce advanced materials as part of a project to be jointly financed by the Asian Infrastructure Investment Bank and the International Finance Corporation, a member of the World Bank Group.
The production center will manufacture energy-saving window films, materials designed to absorb carbon dioxide and volatile organic compounds, and paint-protection films. The facility is expected to help reduce industrial emissions and support the use of low-emission advanced materials in emerging markets.
The investment aims to increase local production capacity and strengthen Türkiye’s position as a regional manufacturing hub connecting Europe, Asia and neighboring markets.
Investment portfolio in Türkiye
Ajay Bhushan Pandey, Vice President of the Asian Infrastructure Investment Bank, said Türkiye was one of the bank’s founding members and an important partner.
Pandey said the bank had made its second-largest investment among its members in Türkiye over the past 10 years. He said the bank had reached approximately 40 projects and an investment volume of $9 billion in Türkiye, adding that many more projects were in preparation.
Pandey noted that Türkiye ranked first among the bank’s members in investment per capita. He said the bank’s largest investment portfolio was in India, with Türkiye ranking second.
Pandey said investments in Türkiye were carried out through the public sector, private sector and local financial institutions. He added that the bank formed partnerships with development banks and participated in bonds issued by Turkish banks.
New projects and financing goals
Pandey said Türkiye’s public and private sectors remained committed to contributing to infrastructure development, adding that the country had significant potential for more projects and financing.
Pandey said projects could be financed directly and that resources could also be provided in cooperation with multilateral development banks and development finance institutions in Türkiye. He said they expected to implement more projects in the coming years than in the previous period.
Pandey said the bank’s current portfolio was concentrated in energy, transport, waste management, urban development and climate resilience. He said they wanted to expand in sustainable cities, electrification and zero-waste projects. He also announced that an approved geothermal project existed for Türkiye.
Energy security and green infrastructure
Pandey said the current geopolitical situation was prompting countries to strengthen their energy security, adding that renewable energy and electrification had become integral parts of energy security policies.
Describing the bank’s project portfolio in Türkiye as dynamic, Pandey said there was no specific limit on the number of projects eligible for financing as long as highly feasible, high-quality projects were available. He said the bank could seek to finance all 10 projects within a few years if they were deemed suitable.
Pandey said infrastructure investments needed to provide solutions to climate challenges, emphasizing the importance of green infrastructure and infrastructure financing. He said there was a significant financing gap between Asia’s infrastructure needs in the coming years and the capital currently available.
Pandey said multilateral development banks could mobilize private capital through their own balance sheets and various financial instruments. He said these institutions could help identify projects and structure them to make them bankable, facilitating access to various resources, including credit enhancement and guarantee mechanisms.
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