Turkey: Golu Gas Storage Expansion (AIIB-000062)

Countries
  • Turkey
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jun 1, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Boru Hatlari ile Petrol Tasima A.S. (BOTAS)
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 600.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 2,500.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ AIIB website

Updated in EWS Jul 1, 2018

Disclosed by Bank Dec 13, 2017


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Project Description

This project finances expansions to Turkey's gas storage capacity through the Tuz Golu Gas Storage Expansion Facilities. This includes surface and subsurface facilities, water and brine pipelines, and gas and electricity transmission lines. The project also finances the creation of an Environmental and Social Impact Assessment and Resettlement Action Plans.

Investment Description
  • Asian Infrastructure Investment Bank (AIIB)
  • World Bank (WB)

In addition to the proposed AIIB funding, the World Bank is considering providing a loan of US $600 million.

Private Actors
Contact Information

Asian Infrastructure Investment Bank
Hari Bhaskar
Project Team Leader / Senior Investment Operations Specialist
Tel: +86 10 8358 0167
E-Mail: hari.bhaskar@aiib.org

World Bank
Abdulaziz Faghi
Task Team Leader / Senior Energy Specialist
Tel: +1 202 473 2236
E-Mail: afaghi@worldbank.org

Borrower and Implementing Agency (BOTAS)
Mehmet Gazi Dulger
Head of Underground Gas Storage Department, BOTAS
Tel: +90 312 297 2018
E-Mail: mgazi.dulger@botas.gov.tr

ACCOUNTABILITY MECHANISM OF AIIB

In addition, the AIIB has a Bank Oversight Mechanism. According to AIIB's policies, "people who believe they have been or are likely to be adversely affected by a failure of the Bank to implement the ESP may also submit complaints to the Bank's oversight mechanism in accordance with the policies and procedures to be established by the Bank for such mechanism." However, at the time of writing, it is unclear what the exact scope and function of this Oversight Mechanism will be.