European Bank for Reconstruction and Development (EBRD) approved $2.5 million in loans for Parahat Individual Enterprise, a leading producer of juices and dairy products in Turkmenistan, according to the bank’s Project Summary Document (PSD) disclosed last Friday.
The EBRD said the funds will be used for the procurement of technological equipment and working capital purposes.
Parahat IE is planning to introduce glass bottle recycling facility, the EBRD underlined in the PSD and added that the company will also install new packaging equipment, which will incease shell life of its products and improve their transportability, including for potential foreign clients.
The company will also expand and diversify its operation by introducing new PET bottling line, the bank noted.
Parahat IE is the producer of Eçil and Joş juices, Özi soft drinks, Süýtli Dere milkshakes, Han Çaý iced teas and Ýeserje baby purees.
Since the start of its operations in Turkmenistan, the EBRD has invested €290 million through 85 projects in a wide range of sectors.