April 19, 2025 – A significant investment project has landed in Turkey’s industrial sector. Rönesans Holding, a major Turkish contracting and investment conglomerate, recently finalized financing to kickstart the development of the Ceyhan Polypropylene (PP) production plant and terminal facilities. With a staggering value of $2 billion, this initiative stands as one of the largest private-sector industrial investments in Turkey’s history and marks a milestone in Rönesans’ growth trajectory.
The project’s financial backing showcases its global clout. The U.S. International Development Finance Corporation (DFC) led a $1.3 billion financing round for the PP production plant, while the Spanish export credit agency (CESC) spearheaded another $1.3 billion funding effort for both the PP production plant and terminal developers. AsiaMB has learned that Rönesans has also forged landmark partnerships with SONATRACH, Africa’s largest enterprise, and Stolt-Nielsen, a global titan in integrated supply chain solutions for specialty liquid bulk chemicals, laying a solid foundation for the project’s successful implementation.
The undertaking comprises two key components: the PP production plant and the terminal facilities. Developed jointly by Rönesans and SONATRACH, the production plant will have an annual capacity of 472,500 metric tons, meeting approximately 17% of Turkey’s PP demand and significantly alleviating the country’s supply-demand imbalance. Erman Ilıcak, Honorary President of Rönesans Holding, highlighted that the project will not only generate hundreds of job opportunities but also establish a more resilient PP supply chain. Notably, as the funding is entirely sourced from abroad, it will bolster Turkey’s efforts to attract international investment. Rachid Hachichi, CEO of SONATRACH, pointed out that the thriving PP market demand and favorable economic prospects in Turkey were the primary drivers behind their investment decision.
The terminal facilities, developed in collaboration with Stolthaven Terminals, will provide warehousing and logistics services for the new plant and potential future clients. Guy Bessant, President of Stolthaven Terminals, emphasized that with over five decades of experience in handling bulk liquids, the terminal will serve not only the PP plant but also function as a crucial logistics hub within the DAPEK industrial zone.
In terms of sustainability, both projects will adopt advanced environmentally friendly technologies. The PP production plant aims to achieve the world’s lowest greenhouse gas emissions per ton of PP, leveraging 100% renewable electricity and efficient production processes to uphold the principles of green development.
As one of the world’s leading PP importers, Turkey consumes around 2.7 million metric tons of PP annually, while its domestic production can only supply 100,000 metric tons. Strategically located in the DAPEK industrial zone, the Ceyhan PP production plant is expected to reduce Turkey’s trade deficit by approximately $300 million annually, thanks to its geographical and cost advantages. During the peak construction phase, it will create 4,500 jobs, and 300 long-term positions will be available once operations commence. Additionally, skill-training initiatives, such as welding schools, will be established, injecting sustained impetus into the local socio-economic development.