Tersan Floating Dock (EBRD-48610)

Countries
  • Turkey
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Mar 8, 2017
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
TERSAN TERSANECILIK TASIMACILIK SANAYI VE TICARET A.S
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 21.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS May 1, 2017

Disclosed by Bank Oct 6, 2016


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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.
TRANSLATED VERSION OF THIS PSD:TURKISH Turkish PROJECT DESCRIPTION The EBRD is considering providing a senior loan of up to USD 21 million to Tersan Tersanecilik Tasimacilik Sanayi ve Ticaret A.S. to finance the construction of a new floating dock for servicing, repairing and maintaining commercial maritime vessels near Istanbul, Turkey. Total project costs are estimated at USD 30 million. PROJECT OBJECTIVES The primary purpose of the project is the strengthening of Tersan's competitive position in the maritime vessel maintenance industry in Turkey along with sectoral expansion. Tersan will replace an existing leased dock with the planned investment. Construction of the floating dock will enable Tersan to increase its capacity and achieve international best practice for operation of such facilities. TRANSITION IMPACT The Project will build on the transition impact through: CLIENT INFORMATION TERSAN TERSANECILIK TASIMACILIK SANAYI VE TICARET A.S EBRD FINANCE SUMMARY USD 21,000,000.00 TOTAL PROJECT COST USD 30,000,000.00 ENVIRONMENTAL AND SOCIAL SUMMARY The project has been categorised B under the Bank's Environmental and Social Policy (ESP) (2014) as the environmental and social (E&S) impacts associated with the construction of the floating dock can be readily assessed and mitigated. TECHNICAL COOPERATION None. COMPANY CONTACT Information Ahmet Teyfik Paksu apaksu@tersan.com.tr 00902264656200 00902264656200 http://www.tersanshipyard.com/home Acicesme Mevkii, Bogazici Cad. No:28, Tavsanli # Altinova, 77740, Yalova / Turkey Business opportunities
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
TERSAN TERSANECILIK TASIMACILIK SANAYI VE TICARET's primary activity is the provision of repair and periodic maintenance services to owners or operators of a variety of maritime vessels and structures at its repair docks.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
Information Ahmet Teyfik Paksu apaksu@tersan.com.tr 00902264656200 00902264656200 http://www.tersanshipyard.com/home Acicesme Mevkii, Bogazici Cad. No:28, Tavsanli # Altinova, 77740, Yalova ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.

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