100 Million Euro Funding from Doğuş Çay for the Food and Agriculture Sector
The secured long-term financing aims to increase production capacity, develop logistics infrastructure, and support agricultural employment.
Within the framework of its long-term investment program, Doğuş Çay secured an eight-year financing of 100 million Euros from the International Finance Corporation (IFC), the private sector arm of the World Bank Group.
Details of the Financing and Areas of Use
This financing, which includes a two-year grace period, will be used to increase the company's potato chip and tomato paste production capacity.
Additionally, investments will be made in seed production and storage infrastructure, and distribution and logistics activities across Turkey will be improved.
Employment and Contribution to Farmers
According to the company's statement, the provided resource will support approximately 3,400 direct and indirect jobs in food processing, logistics, and agriculture.
The institution, which works with over 50,000 farmers across Turkey, is expected to increase the country's agricultural competitiveness by creating income opportunities for farmers with this financing.
Statements from the Board Member
Doğuş Çay Board Member Bilge Kaan Karakan stated that the financing will support capacity increase and efficiency investments in production facilities.
Karakan expressed that tomato paste production infrastructure, distribution capabilities, and innovation efforts will also be strengthened with this resource.
Growth Targets in Europe
Bilge Kaan Karakan noted that they will commission their potato chip production facilities in Hungary in 2027.
It was reported that with this move, the company plans to take its growth journey in Europe further.