Banks back Turkish railport
TURKEY: Two US$30m loans to finance the US$86m development of a privately-run inland rail terminal in Kocaeli province, to the east of Istanbul, have been agreed by the European Bank for Reconstruction & Development and majority Chinese-owned Turkish bank ICBC Turkey.
The terminal is being developed by a 67:33 joint venture of Turkish shipping and logistics company Arkas Holding and German inland port and logistics company Duisport.
Scheduled to open in 2020, it is intended to serve industries operating in northwest Turkey, facilitating rail transport within the country and between Asia and Europe via the Baku – Tbilisi – Kars line.
The 26·5 ha site will have 5 000 m2 of warehousing. The first phase is expected to handle 105 000 TEU and 500 000 tonnes of general cargo per year.
‘Arkas’ railport combines various modes of transport in an innovative, efficient and environmentally friendly way’, said Nandita Parshad, EBRD Managing Director for Sustainable Infrastructure, on May 9. ‘It demonstrates what private sector involvement can achieve for better trade and regional integration and we are very happy to support this milestone infrastructure project in Turkey.’
- Arkas Holding is planning to develop a second railport at Mersin on the east Mediterranean coast which would handle road and rail freight between North Africa, Iran, Iraq and Turkey.