“Massive” Loan of 5 Billion US Dollars For Gebze-İzmir Motorway Project!BACK

Parties signed for the the largest Project massive financing loan so far today in Turkey.

5 Billion USD funding has been provided by a consortium of 9 banks for Gebze-İzmir Motorway Project.

Within the scope of Gebze-İzmir Motorway Project which reduces travel time between İstanbul and İzmir to 3,5 hours, loan contracts for financing package of 5 billion US Dollars to meet the remaining project financing needs, were signed on June 5, 2015.

1.4 billion USD in 2013 and 600 million USD in 2014, totally 2 billion USD financing has been provided for the first two phases composing Gebze-Orhangazi and Orhangazi-Bursa sections of the project that has been put into practice and divided into three phases.

15 year term of which 4 year is non-recourse 5 Billion US Dollars new loan package to be used for refunding of existing loans and all remaining investments including Bursa-İzmir section which is the longest part of the project will be provided by 9 banks with an equal accession. The consortium for loan package consists of Akbank, Deutsche Bank AG London Branch, Finansbank, Garanti Bank, Halkbank, İş Bankası, Vakıfbank, Yapi Kredi and Ziraat Bankası.

Once İzmit Bay Transition Bridge completed as the key passageway has been built between Dilovası and Hersek, it will have a reputation of being world’s second longest suspension bridge with 3 kilometers long as well as world’s fourth largest bridge with its central span of 1,550 meters.

Nurol, Özaltın, Makyol, Astaldi and Göçay compose the main investors within the scope of401 kmMotorway Project implemented by Motorway Investment and Operating Inc. with built-operate-transfer model.