Turkish glassmaker Ciner Glass has finalised a €504 million loan with a consortium of international and Belgian banks to finance its new bottle plant in Lommel, Limburg.
The facility, one of the largest recent foreign investments in Belgium, will produce up to 650 tonnes of bottles and jars daily, partly using recycled materials. The €700 million project is expected to create 500 jobs. Construction began last year under a bridge loan.
Half of the new financing package, worth €252 million, is guaranteed by the Flemish government through Gigarant, an arm of state investor PMV. The remainder is backed by foreign export credit agencies.
The banking syndicate was led by BNP Paribas and its Belgian arm BNP Paribas Fortis. Belgian banks KBC and Belfius also participated, alongside Japan’s MUFG, Spain’s BBVA, Italy’s Banco BPM, the Netherlands’ DHB Bank, and Turkey’s ENBD Denizbank, controlled by a UAE group.
Ciner Glass has already started recruiting staff for the site. Construction is expected to finish in spring 2026, with full operations planned by 2027.
