2 billion dollars polypropylene production plant in Turkey

Rönesans Holding, one of Europe’s leading contracting and investment groups, has initiated one of the largest private sector investments in Turkey to date: the construction of a new polypropylene production plant and liquid bulk terminal in Ceyhan. With a total investment of 2 billion dollars, these strategic projects aim to increase Türkiye’s industrial self-sufficiency, reduce foreign dependency, and enhance the country’s position in global trade.

The company has secured total of 1.3 billion dollars in financing for these projects – from the US International Development Finance Corporation (DFC) and Spain’s Export Credit Agency (Cesce). The construction of these projects, developed in collaboration with expert solution partners from 12 Countries, are ongoing and, according to forecasts, once operational these investments will directly contribute 300 million dollars annually to reducing Türkiye's current account deficit.

“Protectionism is increasing, and supply chains are being reshaped. Energy and production are becoming localised. This transformation holds significant opportunities for countries like ours. In particular, strategic heavy industry investments are needed to reduce the foreign trade deficit arising due to imports of industrial machinery, plastics and chemicals, as well as industrial and precious metals. Over the past 10 years, industrial investments totaling approximately USD 20 billion have been made in Türkiye, including projects worth over USD 500 million. But this is not enough”, Erman Ilıcak, Honorary President of Rönesans Holding, said.

“To close the gap, Türkiye needs to allocate at least 12 billion dollars annually over the next five years, totaling 60 billion dollars. If an investment initiative of this scale is undertaken, we could see a 15 billion dollars annual increase in GDP and a 10 billion dollars reduction in the foreign trade deficit. At Rönesans Holding, we have secured international financing for our Ceyhan polypropylene production facility and liquid bulk terminal investments, which serve this very purpose”, added Erman Ilıcak.