AsyaPort gets financing for DBOM terminal

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AsyaPort gets financing for DBOM terminal

The European Bank for Reconstruction and Development (EBRD) announced in a written statement that it provided a US$92 million worth of loan to Turkey's first trans-shipment container terminal AsyaPort.

The International Finance Corporation (IFC) also provided a US$69 million loan to AsyaPort while one of Turkey's largest private lenders Turkiye Is Bankasi provided US$106.6 million.

The total amount of debt is US$267.6 million. It will be used to design, build, operate and maintain the new container terminal.

AsyaPort will have a capacity of 1.9 million TEUs. 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.

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.

AsyaPort will be built and operated by the special purpose company. AsyaPort Liman A.S., which is a joint venture between Terminal Investments Limited - which is part of the Mediterranean Shipping Company (MSC) group, the world's second-largest shipping line in terms of container vessel capacity - and the Soyuer family.

The EBRD regards strengthening regional transport infrastructure as one of the key priorities in Turkey. To date, the Bank has invested more than €500 million in the country's infrastructure sector, including Mersin International PortEurasia Tunnel and the new domestic terminal at Izmir Airport.

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