Eren Holding Chairman Ahmet Eren, ING Turkey Corporate Banking Executive Vice President Ayşegül Akay, ING Turkey Corporate Banking Executive Vice President Ayşegül Akay, ING Turkey Corporate Customers Executive Vice President İpek Erhan, DZ Bank Turkey Chief Representative Pinar Ersoy, Ziraat Bank Marketing Group President Melih Tarhan and Sinosure CEO Hetai Sheng were all present at the ceremony. ING has taken on the role of "Green Loan" Coordinator in the ongoing agreement process and is fully committed to supporting the loan provision.

A subsidiary of Eren Holding, Modern Karton, will invest 650 million euros in its new "Green Factory" in Zonguldak, Turkey. The new PM6 production line in Zonguldak will see the company increase its annual production capacity to 1.9 million tons. The factory, which has both a port and a water treatment facility, was designed based on a production strategy that is completely environmentally friendly. Through the treatment of seawater, the facility will save 25 million cubic meters of water each year and avert the annual removal of 25 million trees.

The PM6 production line will also boost the company's existing export potential thanks to its location. With the commissioning of the new facility, Modern Karton, which currently ranks fifth in Europe for packaging paper production, will move up to third. The Zonguldak site was chosen for the new production line due to its logistics capabilities and commitment to sustainability and will be established with an investment of €650 million creating employment for around 500 people in the first phase. Additionally, the facility is anticipated to have a substantial impact on the local economy.

100% Green Investment

The newly installed production line in Zonguldak will run environmentally friendly. The facility will prevent the annual felling of 25 million trees because it will use scrap paper as its raw material. The water required for production will be taken directly from the sea and treated there before being returned to the sea on site. This will result in the saving of 25 million cubic meters of water annually. The new production line's own port will also result in substantial savings because it offers significant logistical advantages.