• EBRD supports privatisation of key port on the Sea of Marmara
• Investments to improve efficiency and expand port capacity
• Modernisation will help shift cargo from roads to shipping and railway

Turkey’s maritime industry is receiving a boost thanks to a new loan from the EBRD of US$ 17.5 million to the operator of Tekirdag port on the Sea of Marmara. ICBC Turkey is providing an equal loan.

Ceyport Tekirdag Uluslararasi Liman Isletmeciligi is operating the port under a 36-year concession granted by the Turkish privatisation authority last year.

The EBRD loan will partially finance the acquisition of operating rights, the modernisation of the port and the expansion of its capacity, to which the company has committed under the concession agreement.

The Tekirdag port handles general cargo, dry and liquid bulk, containers and roll-on/roll-off (ro-ro) vessels and serves industrial and agricultural production and trade in the region. It is the only port in the western Marmara Sea that provides both ro-ro and rail-ferry services to the eastern Marmara region. Enhanced port infrastructure will play a key role in directing a larger share of cargo from roads towards railway and shipping lines, which are more environmentally friendly alternatives.

The port operator is a subsidiary of Cey Group, one of the largest logistics groups in Turkey, which also includes Ceynak Lojistik and the operators of Samsun port and Mesbas port located in the Mersin Free Zone.

The EBRD is a major investor in Turkey. Since 2009 it has invested €11.5 billion in various sectors of the Turkish economy, with almost all investment made in the private sector. More than half of its investment in Turkey promotes sustainability and the rational use of energy.