European Bank for Reconstruction and Development (EBRD) approved $2.8 million in loans for Täç Hil Individual Enterprise, a producer of hygienic products and plastic bags in Turkmenistan, according to the bank’s Project Summary Document (PSD) disclosed last Friday.
The EBRD said the funds will partially finance the procurement of equipment to upgrade the production efficiency of hygienic products' line and to diversify product range.
The loans will help purchase moulding machines for the PET bottles and equipment for the production of plastic bags and to finance working capital needs.
Täç Hil IE, founded in 2006, operates in industrial zone in Ahal velayat’s Ak Bugday etrap. The company’s product range includes wet wipes, detergents and liquid soaps. The Turkmen business exports its products to Azerbaijan, Kazakhstan, Afghanistan and the Kyrgyz Republic.