World Bank's Corporation Offers Petlas US$250 million Loan

2nd September 2008 | 0 Comments
 

International Finance Corporation (IFC), a member of the World Bank Group, has reportedly offered loan support of up to US$250 million dollars to Turkish tyre manufacturer Petlas. According to the Anatolia news agency, the first step is an 80-million-dollar loan for Petlas, apparently the only tyre plant manufacturing military tyres in Turkey. Semra Guler, finance director of Abdulkadir Ozcan Otomotiv A.S, told the news agency the financing would help Petlas upgrade technology, expand product range and manufacture eco-friendly tyres.

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Category: International News