The cardboard machine conversion with Valmet's equipment in Turkey
![Turkin kartta.](/sites/finnvera.fi/files/styles/9_16_max_320/public/2023-01/Turkki%20kartta.jpg.webp)
Valmet delivers an extensive cardboard machine replacement and automation services to Modern Karton's Tekirdag factory in Turkey. Modern Karton is part of Eren Holding and it is Turkey´s largest and one of Europe´s largest manufacturers of corrugated cardboard.
Renewing the cardboard machine will convert the recycled outer packaging cardboard producing machine to produce recycled high-quality coated outer packaging cardboard and increase its capacity.
Finnvera has granted a buyer credit guarantee for the delivery. The amount of the credit is 44,4 million euros and the cover presentage of the guarantee is 95%.
Information about the guarantee agreement
- Signing date of the Finnvera Guarantee Agreement: March 15, 2022
- Name of the Guarantee Holder: Bayerische Landesbank
- Name of the Exporter: Valmet Technologies Oy
- Name of the Lender: Bayerische Landesbank
- Name of the Buyer and Borrower: Modern Karton Sanayi Ve Ticaret A.S.
- Name of the Guarantor: Türkiye Cumhuriyeti Ziraat Bankasi A.S.
- Project/Export transaction/Goods: equipment for carboard factory modernization
- Credit amount EUR: 44,4 million
- Credit period: 2+10 years
- Percentage of cover: 95%
- ES-risk classification: B
- International standards applied in benchmarking: IFC Performance Standards and EHS Guidelines
- Contact point: [email protected]
- Environmental and social impact information: Recycled paper as raw material. Environmental impacts are considered fairly low and local.
- Date of publish: 22.12.2022