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According to the Bank’s website, the proposed investment aims to support Autoport Liman Isletmeleri A.S., a specialized Ro-Ro and general cargo port operator located in the Gulf of Izmit Turkiye, with its ongoing CapEx program involving the expansion of berth and yard capacity. The IFC financing entails an IFC A loan of up to US$30 million and US$2 million indicative expected potential exposure (EPE) for interest rate swaps.
The Project will support the planned expansion of the berth and yard capacity of Arkas Autoport, expected to facilitate the growth of automobile production and exports via enhanced handling capacity. The port’s current capacity is constrained by the size of the existing yard for vehicle storage, as it has reached its maximum storage capacity and is currently using satellite parking areas (added in 2023) for buffer storage, and internal roads for temporary storage during periods of peak demand. The project is expected to contribute to increased growth, direct and indirect jobs. At market level, the expected increase in berth capacity at Autoport is expected to improve connectivity to regional and global markets and thereby strengthen competitiveness. The project will enable the port to handle large cargo volumes, thus facilitating foreign trade and allowing for increased exports for Turkiye’s automotive industry.
This is a Category B project according to IFC’s E&S Sustainability Policy due to limited and site-specific E&S risks and impacts associated with the operations and maintenance at the existing production facilities. The main E&S issues and risks reviewed as part of IFC appraisal are:
(i) implementation of E&S management system;
(ii) adequacy of E&S organizational capacity/competency;
(iii) labor and working conditions of employees and contractors, including prevention of gender-based violence and harassment (GBVH);
(iv) management of dredge spoil materials, backfill materials during construction phase;
(v) management of vessel wastes, stormwater, hazardous material storage and disposal for the existing operations phase;
(vi) biodiversity risks;
(vii) emergency preparedness and response;
(viii) life and fire safety management;
(ix) community health, traffic and safety management; and
(x) stakeholder engagement and grievance mechanism.
The total project cost is c. US$157 million. IFC contribution entails (i) an A loan of up to US$30 million, and a (ii) US$2 million indicative expected potential exposure (EPE) for interest rate swaps.
Autoport Liman Isletmeleri A.S., is owned 80% by Arkas Group while the remaining shares are owned by Mr. Ayhan Zeytinoglu and Mr. Adnan Zeytinoglu with 10% shareholding each.
Arkas Group is owned by Mr. Lucien Arkas and his family; and is one of the leading transportation and logistics conglomerate in Turkiye with activities spanning from port operations, logistics, shipping and agency, among others.
| Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
|---|---|---|---|---|---|---|
| - | - | - | - | Arkas Holding AS | Parent Company | - |
| - | - | - | - | Autoport Liman Isletmeleri A.S. | Client | - |
For Inquiries About the Project, Contact:
Company: Autoport Liman Isletmeleri A.S.
Address: Sepetlipinar Mahallesi, Arpalik Caddesi No:100 41275 Basiskele, Kocaeli Turkiye
Contact Name: [Vural Ustundag]
Title: Project Finance Deputy Manager
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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
