Turkey: supporting the growth of Kılıç Deniz and sustainable fish production

A family business set up in 1993, Kılıç Deniz is the leading player in the aquaculture sector in Turkey and the main supplier in Europe of certain Mediterranean species (sea bass, sea bream). Its operations are integrated throughout the aquaculture value chain, from the production of fingerlings and fish feed to fish farming in offshore marine and inland fresh-water farms and the processing and distribution of a wide range of fish. The company currently employs some 2,000 people and exports to some 60 countries.

This EUR 15m financing is part of a syndication led by FMO, for a total amount of EUR 80m. It will support the company’s growth by financing new fish farms and a processing and packaging plant. It will also optimize its balance sheet. 

This project should support 8,100 jobs over the next 5 years throughout the value chain (production unit for granules for fish feed, fish farms, processing & packaging units, etc.), including 450 direct jobs created in rural and coastal areas in Turkey that are hardest hit by unemployment. Positive macroeconomic impacts are therefore expected as the project will generate hard currencies (euros, dollars, etc.) and contribute to Turkey’s government revenue. On the environmental front, the Group’s management of the environmental aspects is generally considered to be satisfactory with, in addition, a commitment by the client to implement an E&S action plan under the project.

The project will contribute to SDG n° 8 (“Decent work and economic growth”).