Ekol Ro-Ro II (EBRD-49067)

Countries
  • Turkey
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
Approved
Bank Risk Rating
B
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
Apr 5, 2017
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
Alternative Tasimacilik A.S
The holder of the loan, grant, or other investment.
Sectors
  • Transport
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)
$ 20.31 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 18,500,000.00
Converted using 2017-05-04 exchange rate.
Project Cost (USD)
$ 49.96 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 45,500,000.00
Converted using 2017-05-04 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jun 21, 2017

Disclosed by Bank Mar 2, 2017


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Project Description
This project inolves a senior loan to Alternative Tasimacilik A.S (Alternative) to finance the acquisition of a roll-on/roll-off (ro-ro) vessel to provide international sea transportation services from Haydarpasa in Turkey to Trieste, Italy. Alternative was established in 2012 by Ahmet Musul, the founder and the majority shareholder of Ekol Lojistik A.S.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
ALTERNATIVE TASIMACILIK AS, a special purpose company established in Istanbul in November 2012, is 100 per cent owned by Ahmet Musul, the founder and the majority shareholder of Ekol Lojistik A.S. Ekol is currently one of the largest third-party logistics providers operating in Turkey with over 40 locations in 25 cities in Turkey and 18 locations in 9 European countries.
Contact Information
Rasim Kartal rasim.kartal@ekol.com +90 216 564 3016 www.ekol.com 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.