Paper company obtains $5 million loan from the European Bank for Reconstruction and Development.
The European Bank for Reconstruction and Development (EBRD) has extended a $5 million loan to Toprak Paper Products Company, a manufacturer of cardboard packaging in Turkmenistan, found in Central Asia. The loan will be used to build a recycled paperboard mill. When complete, the mill will be the first private paper recycling facility in Turkmenistan. When operational, the facility will be capable of producing up to 25 tons of paper per day.
In a statement Toprak says it plans to sell a third of this output and use the remaining two-thirds for its cardboard packaging production.
The loan will enable Toprak to integrate its production cycle by using modern recycling technologies and know-how, says Frederic Lucenet, EBRD’s director for manufacturing and services. In addition to the loan, the EBRD also will provide the company with technical cooperation for legal and technical due diligence.