BSTDB helps Turkish Hayat Kimya to expand tissue capacity in Russia


The Black Sea Trade and Development bank (BSTDB) has provided a 7-year Euro 75 million loan to the Turkish Hayat Kimya Group for the construction of a new factory in Kaluga, Russia, producing cleansing tissue and towel paper.

The total project cost is Euro 134.5 million. This will be the third production factory of the Group in Russia. Once completed, it is expected to turn Hayat Kimya into the largest cleansing tissue and towel paper of the country.

«Our latest investment in the Hayat Kimya production facility in Kaluga represents a development of our successful partnership with the Group started back in 2014» says BSTDB President Dmitry Pankin. «We are pleased to see how our financing help provide Russia and the Black Sea countries with high-quality products at affordable prices for the consumers, while strengthening employment, economic resilience and promoting exports.  This project is an exemplary illustration of a cross-border investment between our member countries, which is one of the core pillars of the Bank’s mandate».

«It is a great pleasure for us to be partnering once again with BSTDB, this time for our new investment in Kaluga (Russia) which will be the third cleansing tissue and towel paper factory of our Group in the Russian Federation» says Hüseyin Okur, Hayat Kimya Group Vice President, Finance. «We believe that this strong partnership will develop further and enable us to make new investments in the future, effectively contributing to the transition process of the BSTDB Member States like Russia and Turkey towards the economic prosperity of the people of the region».

Established in 1937, Hayat Kimya mainly deals with the production of detergent, hygiene and tissue products. It currently carries out its Turkish production activities at two facilities located in Kocaeli and Mersin in Turkey. It sells products to both domestic and foreign markets and its subsidiaries and affiliates have similar production facilities in Algeria, Egypt, Bosnia and Herzegovina, Russia, Iran, Nigeria, Pakistan and Vietnam, as well as distribution facilities in Bulgaria, Morocco, Romania, Kenya, Thailand and Malaysia.  Hayat Kimya has become the largest tissue manufacturer of Eastern Europe, Middle East and Africa, and the fifth largest baby diaper manufacturer in the world. All products are manufactured automatically in a hands-free environment designed and constructed strictly in accordance with the ISO 9001 Quality Assurance System.