EBRD to finance Dalaman airport concession

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EBRD to finance Dalaman airport concession

The European Bank for Reconstruction and Development (EBRD) is considering to finance the Dalaman airport concession in southwestern Turkey.

The loan would comprise an A-loan portion of up to €87.5 million (US$109 million) for the EBRD's own account, and a B-loan portion of up to €87.5 million syndicated to a commercial bank.

YDA Insaat won the tender process for the concession contract in early March 2014. The firm offered the highest bid, €705 million (US$980 million), for the 26-year contract. The company will start operating the airport from 2015.

The project comprises construction of a new domestic terminal with its auxiliary structures, including road access and parking facilities, and demolition of the existing domestic terminal upon completion of the new terminal. The contract also involves the  operation of this domestic terminal together with the international terminal based on a concession agreement until the end of 2040.

The US$150 million new international terminal was opened in 2009 following a build, finance, operate and transfer model. This terminal increased the capacity of the airport to 10 million passengers and can handle up to 35 planes parked at any one time. There are 22 escalators and 21 lifts in the 4 levels terminal building of 95,000 m² indoors area.

The EBRD's financing would increase private sector participation in the development, management and operation of airport infrastructure in Turkey, and would contribute to supporting the growth of the regional economy of one of the most popular tourist destinations in Turkey.

Dalaman airport, which serves the popular Turkish holiday resorts of Datça, Marmaris, Göcek, Dalyan, Sar?germe, Fethiye, Ölüdeniz, Kalkan and Ka?, is the fourth largest airport in terms of passenger traffic on international flights and the seventh largest airport in terms of total passenger traffic in Turkey. The airport's passenger traffic rose 6% to 4.057 million in 2013.

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