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EBRD provides loan towards Tekirdag port privatisation

Istanbul, Turkey (PortSEurope) June 19, 2019 – The European Bank for Reconstruction and Development (EBRD) is to provide a $17.5 million (€15.78 million) loan to Ceyport Tekirdag Uluslararasi Liman Isletmeciligi A.S. (Tekirdag A.S.) to fund a 36-year concession of Tekirdag port, which is currently state-operated.

The company will run a project to privatise the port, and with an investment plan it aims to modernise the port and increase capacity from 1.6 million tons in 2017 to 1.9 million tons in 2022 for general and dry bulk cargo, and from 150k to 260k tons for liquid cargo mainly due to improvement in storage. Total project cost is estimated at $127.8 million (€113.92 million), with funding also from ICBC Turkey Bank A.S.

Tekirdag A.S. is 51% owned by Ceynak Lojistik ve Ticaret A.S., 25% owned by Samsunport-Samsun Uluslararasi Liman Isletmeciligi A.S. and 24% by private individuals Ali Avci, Mehmet Berzan Avci and Lerzan Avci Lulecioglu.

The Port is located on the northern coastline of the Marmura Sea, and has dry bulk/general cargo, liquid bulk, container and Ro-Ro handling capacities serving industrial and agricultural production and trading in the Marmara region.

Source: EBRD

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