Mina to expand glass packaging production capacity in Georgia

12 January 2015 (Last Updated January 12th, 2015 18:30)

Glass packaging manufacturer Mina is being backed by a series of loans to expand its production lines in Georgia.

Glass packaging manufacturer Mina is being backed by a series of loans to expand its production lines in Georgia.

Mina is owned by Anadolu Cam, the glass packaging arm of Sisecam, a Turkish producer of glass products worldwide.

The company produces glass bottles for the beverages market, a priority export sector for Georgia, which is currently largely dependent on imported bottles.

World Bank Group member IFC is providing a senior loan of $8.5m, besides a senior loan of €5m from Rabobank for Mina's expansion.

"World Bank Group member IFC is providing a senior loan of $8.5m, besides a senior loan of €5m from Rabobank for Mina's expansion."

Work under the expansion includes renovation and equipment upgrades, along with energy and resource efficiency improvements.

IFC South Caucasus regional manager Thomas Lubeck said: "This investment is part of IFC's strategy to support sectors where Georgia has comparative advantages and which have the potential to create jobs, benefit the economy and expand exports."

Rabobank Istanbul CEO Guray Alpkaya said: "Rabobank is pleased to be able to help long-term client Anadolu Cam reinforce its leadership in the region's glass manufacturing sector.

"The company is an excellent example of supporting regional cooperation, job creation and economic development."

Earlier in 1999, IFC first invested in Mina to help increase exports, enhance energy efficiency and raise environmental practices to international standards.