Şişecam and Ciner Group restructure US soda ash joint venture
Şişecam and its partner Ciner Group are expanding the scope of their cooperation and changing the structure of their partnership.
The two companies have been development joint venture partners in the Pacific natural soda ash development project since 2019.
As part of the new investment, Şişecam will become a 60% shareholder by acquiring an additional share in the Pacific Project.
In addition, Şişecam will also purchase a 60% share in the Atlantic Project and Ciner Resources, the existing natural soda ash production facility of Ciner Group in Wyoming.
The Ciner Resources Wyoming Plant has a current production capacity of ~2.5 million tonnes/year.
The Pacific and Atlantic development projects with a targetted combined production capacity of ~5 million tonnes/year are expected to start production during 2025 and reach full capacity in 2027.
Prof. Ahmet Kırman, Chairman of Şişecam remarked that the investment, which is the largest investment made in the US by Turkish companies. “With these investments, Şişecam's controlled soda ash production capacity will exceed 10 million tonnes. The plan also includes the establishment of the largest soda ash production facility globally in a single location.”
Strong demand is expected in the global soda ash industry in the coming years. The market is expected to reach 60 million tonnes globally by the end of 2021.
When compared to synthetic soda ash production, producing natural soda ash provides a decrease of approximately 50% both in carbon intensity and water consumption.
“This ecologically friendly natural soda ash production is perfectly aligned with Şişecam’s long term sustainability-oriented perspective” Prof. Kırman said.
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