ERJ staff report (DS)
Suhareke, Kosovo -- IFC, a member of the World Bank Group, is
providing a loan of up to euro 5.2 million to Newko Balkan LLC, a producer of
rubber conveyer belts. The aim is to foster economic recovery and cross-border
trade in Kosovo.
IFC's investment in the company, owned by Turkish firm Ozer KonveyÃ¶r Band
Turizm Sanayi ve Ticaret A.S. (Ozerband), will help meet growing demand in
Turkey and Kosovo for the belts, which are used to transport bulk materials
like coal, minerals and cement. Newko Balkan is the only producer of rubber
conveyer belts in Kosovo. Total estimated project cost is â‚¬11.3 million.
Demand growth for rubber conveyor belts is highly correlated with the
growth of electric generation and consumption. While the demand for
electricity in Southeast Europe is expected to grow annually by 2.3
percent, the demand in Kosovo and Turkey is expected to grow much faster in
the coming years.
Ozerband, established in 1976, is the only rubber conveyor belt
manufacturer in Turkey. It is part of a family-owned and operated
diversified industrial group active in rubber conveyor belts, marble mining
and processing, rubber boots and shoes and tourism. In 2005, Ozerband
purchased I.G.K. Balkan, a state- owned entity established in 1963 to meet
the rubber conveyor belt needs of the former Yugoslavia and the former
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Press release from IFC