PROJECT

Projects

Environmental & Social Review Summary

Project Number

46443

Company Name

FRAPORT TAV ANTALYA YATIRIM YAPIM VE ISLETME A.S.

Date ESRS Disclosed

Nov 11, 2022

Country

Turkiye

Region

Central Asia and Turkiye

Last Updated Date

Jul 24, 2025

Environmental Category

A - Significant

Status

Completed

Previous Events

Approved : Feb 2, 2023
Signed : Mar 24, 2023
Invested : Apr 3, 2023

Sector

other

Industry

other

Department

Regional Industry INF MCT

Project Description

The proposed investment is a follow-on loan of up to EUR 75m to the existing 1,25 year bridge loan to Fraport TAV Antalya Yatirim,Yapim ve Isletme A.S. (“FTA” or “the Company”) approved in February 2023, increasing IFC’s total exposure to FTA to up to EUR 225m (c. US$240m). FTA is 51% owned by TAV Airports Holdings and 49% by Fraport AG (“the Sponsors”).

 

The proposed IFC investment consists of a loan of up to €75 million from IFC’s own account, in addition to the existing investment of €150 million which was committed in 2023, to Fraport TAV Antalya Yatirim, Yapim ve Isletme A.S. (“FTA” or “the Company”), 51% owned by TAV Airports Holdings and 49% by Fraport AG (“the Sponsors”), to finance (i) the upfront payment of EUR1.8 billion in lease fees to the General Directorate of State Airports Authority (“DHMI’) and (ii) EUR c. 850m in CAPEX for the construction of a new terminal as part of the expansion and operation of the Antalya Airport (“AYT” or “the Airport”), which includes, among others, the expansion of the terminals, parking areas, a wastewater treatment facility, energy distribution lines, and a 4 MW solar photovoltaic plant.

AYT has been in operation since 1960. It covers an area of 13 km2 and is located 3 km northeast of the Muratpasa District Centre of Antalya Province in the Mediterranean Region of Türkiye. The airport is 60 meters above sea level and surrounded by agricultural lands and settlements.

The Company will be responsible for the terminal operations of AYT for a term of 25 years starting from 1st of January 2027 (the “take over date”), excluding air traffic control and airside management which will continue to be operated by DHMI. Ahead of the takeover date, on, FTA will undertake the CAPEX expansion program which entails a construction period of c. 36 months.

The CAPEX expansion program covers i) airside works of additional apron space, apron for new hangar area; additional taxiways; all infrastructure works for new maintenance hangar area and catering  and hydrant system; ii) terminal works of expansion of International Terminal 2, expansion of Domestic Terminal (T4); and related car parks, Multi-story car park with roof heliport; and iii) other works including offices and lounges and general aviation terminals, DHMI housing, mosque; access roads, access gates, landscaping and new utility center, wastewater treatment facility, energy distribution lines, and solar farm with 4 MW installed capacity. The joint venture (JV) of TAV Construction and Sera Yapi (“ATS” or the “EPC contractor)) has been selected as the Engineering, Procurement and Construction (EPC) Contractor of the expansion works.

An Associated Facility (AF) of the project is the new fuel farm (currently under construction) to be operated by a third party with 85,000 m3 storage capacity in the northern part of the AYT replacing the existing fuel farm with 37,000 m3 capacity located within the AYT.

There are no material changes to the environmental and social (E&S) risks identified and disclosed in November 2022.

 

 

Overview of IFC's Scope of Review

  IFC’s review of this proposed investment consisted of appraising environmental, health and safety (EHS) and social related information submitted by FTA including: technical details of the project, international Environmental and Social Impact Assessment (ESIA) report (disclosed herewith), including Noise Assessment and Land Acquisition Audit, FTA’s environmental and social (E&S) policies and procedures, human resources (HR) management policies and procedures environmental monitoring reports, emergency response plans, COVID-19 related management response plan and stakeholder engagement plan.

The E&S team conducted a site visit to Antalya Airport between 27th and 29th of July 2022 jointly with the other international lenders. The E&S team visited the current operations, construction works, contractor work areas and accommodations facilities and project utility infrastructure. The site visits also included meetings with Managers of Sponsors; Managers of FTA; FTA’s EHS team, Quality Manager, Communications Department, HR Manager, Security Manager; DHMI; and neighborhood the head of the local village (mukhtar) and representatives from the affected community.

 

Update 2024: IFC visited to the project site in December 2023 and a subsequent monitoring visit was conducted by the Independent E&S Consultant (IESC) in January 2024, in addition to the review of E&S documentation. The site visits included meetings with the Sponsors and FTA’s staff responsible for E&S, quality, community relations, and HR, as well as the mukhtar of the neighboring community.

 

Identified Applicable Performance Standards

While all Performance Standards are applicable to this investment, IFC’s environmental and social due diligence indicates that the investment will have impacts which must be managed in a manner consistent with the following Performance Standards.

  • PS1: Assessment and Management of Environmental and Social Risks and Impacts
  • PS2: Labor and Working Conditions
  • PS3: Resource Efficiency and Pollution Prevention
  • PS4: Community Health, Safety and Security
  • PS5: Land Acquisition and Involuntary Resettlement
  • PS6: Biodiversity Conservation and Sustainable Management of Living Natural Resources
  • PS8: Cultural Heritage                                             

E & S Project Categorization and Applicable Standard

Environmental and Social Mitigation Measures

Stakeholder Engagement

Broad Community Support

Environmental & Social Action Plan

Client Documentation

File Name Actions
1. Antalya Airport Expansion Environmental and Social Impact Assessment_TR.pdf
2. Antalya Airport Expansion Non-technical Summary_TR.pdf
3. Antalya Airport Expansion Stakeholder Engagement Plan_TR.pdf
4. Antalya Airport Expansion Environmental and Social Action Plan_TR.pdf
5. Antalya Airport Expansion Environmental and Social Management Plan_TR.pdf
1. Antalya Airport Expansion Environmental and Social Impact Assessment_EN.pdf
2. Antalya Airport Expansion Non-technical Summary_EN.pdf
3. Antalya Airport Expansion Stakeholder Engagement Plan_EN.pdf
4. Antalya Airport Expansion Environmental and Social Action Plan_EN.pdf
5. Antalya Airport Expansion Environmental and Social Management Plan_EN.pdf
6. Antalya Airport Expansion Land Acquisition Audit Report and Corrective Action Plan_EN.pdf
6. Antalya Havalimani Genisleme Projesi Arazi Edinimi Denetim Raporu ve Düzeltici Eylem Plani_TR.pdf
Tamamlayici Geçim Kaynaklarini Iyilestirme Plani Özet Rapor_TR.pdf
Supplementary Livelihood Improvement Plan Summary Report_EN.pdf
PROJECT ASPENDOS ESAP TABLE-JUNE 2024.pdf
Antalya Havalimani Akaryakit Tank Ciftligi Projesi CED Raporu_TR.pdf