EBRD invests in Turkey’s first trans-shipment hub

The European Bank for Reconstruction and Development (EBRD) is providing a US$92 million loan for Turkey’s first trans-shipment container terminal AsyaPort, as the country continues to improve its infrastructure to create the conditions for sustaining its strong economic growth. The Bank’s financing will be used to design, build, operate and maintain a new container terminal in the town of Barbaros, Tekirdag province, some 130 kilometres west of Istanbul. The International Finance Corporation (IFC) and T
December 18, 2013 Read time: 2 mins
The 2001 European Bank for Reconstruction and Development (EBRD) is providing a US$92 million loan for Turkey’s First trans-shipment container terminal AsyaPort, as the country continues to improve its infrastructure to create the conditions for sustaining its strong economic growth.

The Bank’s financing will be used to design, build, operate and maintain a new container terminal in the town of Barbaros, Tekirdag province, some 130 kilometres west of Istanbul. The International Finance Corporation (IFC) and Turkiye Is Bankasi will contribute loans of US$69 million and US$106.6 million, respectively.

Located on the SEA of Marmara side of the Bosporus, AsyaPort is set to become a major trans-shipment hub for cargo bound for Black SEA ports. It will also provide additional, much-needed capacity for domestic shipping traffic. Equipped to handle 1.9 million TEUs (twenty-foot equivalent unit, the standard industry measure for containers), AsyaPort will be able to handle mega-vessels with capacities up to 18,000 TEUs. The port will receive cargo which will then be transported by smaller vessels to the major Black SEA ports. This will not only reduce transportation costs and increase efficiency, but it will also improve the safety of operations on the congested Bosporus.

Sue Barrett, Director for Transport at the EBRD, said: “With Turkey’s international trade mostly seaborne, investing in maritime infrastructure is crucial in boosting growth. We are pleased to finance what will become the country’s First trans-shipment hub and one of its largest container terminals. AsyaPort will promote more efficient logistics and trans-shipment operations in Turkey and the entire region.”

For more information on companies in this article

Related Content

  • Chile launches ambitious transport plan
    November 7, 2014
    In an effort to boost a weakening economy, Chilean President Michelle Bachelet has announced a nearly US$4.2 billion transport infrastructure plan, including one new metro line in Santiago, cable car systems in three other cities and rail projects. The plan includes US$1.9 billion in new concessions, with the expansion of public-private partnerships (PPPs) to the metro system and US$2.2 billion in works directly funded by the government. In Santiago, the program involves developing feasibility studie
    Read More
  • Antea Group to develop Panama Canal commercial development plan
    August 19, 2015
    The Panama Canal Authority (ACP) has commissioned Netherlands-based Antea Group, in partnership with Stig and CroonenBuro5, to produce a plan for the commercial development of an area of 1,200 hectares located in the West Bank at the Pacific side of the Panama Canal. When the Panama Canal Expansion is completed next year, the logistics cluster in Panama is expected to handle additional trans-shipment volumes, as well as new commodities like the liquefied natural gas (LNG). In order to capitalise on thes
    Read More
  • EBRD, EU and Austria improve Skopje’s roads
    September 29, 2014
    Investment from the EBRD and help from Austria and the EU is helping Skopje, the capital city of FYR Macedonia, to upgrade one of its major streets, install a modern traffic management system and improve road safety. Although 45 million journeys are made on the city’s public transport each year, the growing number of vehicles on the streets has made improving congestion a priority for the municipal authorities. In addition, inadequate safety measures and the high volume of pedestrians mean that road safe
    Read More
  • EU identifies priorities for trans-European transport network until 2030
    January 20, 2015
    The European Commission has published nine studies on the state of play and the development needs of the Ten-T core network corridors. The studies have identified infrastructure development needs which represent approximately US$811 billion of financial investment until 2030. They highlight the importance of optimising the use of infrastructure along the corridors, notably through intelligent transport systems, efficient management and the promotion of future-oriented clean transport solutions. This is the
    Read More

Highlighted Content