According to the bank website, the proposed IFC investment involves a two-year bridge loan to Fraport TAV Antalya Yatirim, Yapim ve Isletme A.S. (“FTA” or “the Company”), 51% owned by TAV Airports Holdings and 49% by Fraport AG (“the Sponsors”), to (i) partly finance the payment of EUR1.8 billion in concession fees to the General Directorate of State Airports Authority (“DHMI’) and (ii) 499m EUR in CAPEX for the construction of a new terminal required over the next two years for the expansion and operation of the Antalya Airport (“AYT” or “the Airport”). The IFC loan (150m Euro) would be part of an overall EUR1.75 billion loan financing package, backed by a 50-50 several sponsor guarantee. Remaining tenure of the bridge loan is 1,25 years.  AYT has been under operation since 1960. It covers an area of 13 km2 and is located 3 km northeast of the Muratpasa District Centre of Antalya Province in Mediterranean Region of Türkiye. The airport stands 60 meters above the sea level and is surrounded by agricultural lands and settlements.The company will be responsible for the terminal operations of AYT for a term of 25 years starting from 2027, excluding air traffic control and airside management which will continue to be operated by DHMI which is the entity responsible for the management of the airports in Türkiye and the regulation and control of Turkish airspace. Until the takeover date, FTA will undertake a CAPEX expansion program including a construction period of 36 months. The CAPEX expansion program covers i) airside works of additional apron space, apron for new hangar area; additional taxiways; all infrastructure works for new maintenance hangar area and catering  and hydrant system; ii) terminal works of expansion of International Terminal 2, expansion of Domestic Terminal (T4); and related car parks, Multi-storey car park with roof heliport; and iii) other works including offices and lounges and general aviation terminals, DHMI housing, mosque; access roads, access gates, landscaping and new utility center, wastewater treatment facility, energy distribution lines, and solar farm with 4 MW installed capacity. The joint venture (JV) of TAV Construction and Sera Yapi (“ATS”) has been selected as the Engineering, Procurement and Construction (EPC) Contractor of the expansion works and the EPC agreement was signed end of May. Associated facility (AFs) of the project is the new fuel farm to be funded, built and operated by a third party with 80,000 m3 storage capacity in the northern part of the AYT replacing the existing fuel farm with 37,000 m3 capacity located within the AYT.                                                 

Compliance Advisor Ombudsman
International Finance Corporation
2121 Pennsylvania Avenue NW
Room F10K-242
Washington, DC 20433 USA
Tel: 1 202 458 1973
Fax: 1 202 522 7400
E-mail: cao@worldbankgroup.org

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org