PROJECT

Projects

Environmental & Social Review Summary

Project Number

47580

Company Name

MARPORT LIMAN ISLETMELERI SANAYI VE TICARET ANONIM SIRKETI

Date ESRS Disclosed

Dec 2, 2022

Country

Turkiye

Region

Central Asia and Turkiye

Last Updated Date

Jan 21, 2023

Environmental Category

B - Limited

Status

Active

Previous Events

Approved : Jan 10, 2023
Signed : Jan 16, 2023
Invested : Jan 19, 2023

Sector

Port and Harbor Operations

Industry

Infrastructure

Department

Regional Industry INF MCT

Project Description

Marport Liman Isletmeleri Sanayi ve Ticaret A.S. (“Marport” or “the Company”) is the third largest container terminal in Türkiye and is owned equally by Terminal Investment Limited (“TIL”) and Arkas Group. Marport was founded in 2001 and is located on the European side of the Bosphorus, approximately 20 km from Istanbul, within the Ambarli Port Facility (APF). The port has 7 berths of 1.6 km in an area of 530,000 m2 (https://marport.com.tr/). and has 10 Ship to Shore Gantry Cranes (STS), 41 Rubber Tyred Gantry Cranes (RTG), and 102 Terminal Towing Trucks in its equipment park. 

 

The proposed investment is an IFC A loan of US$105.5 million, along with the mobilization of US$94.5 million Managed Co-Lending Portfolio Program loan and US$4 million indicative Loan Equivalent exposure for interest rate swaps to Marport. The proceeds of the proposed IFC financing will be utilized to refinance an existing bridge loan and support Marport’s investment plan to upgrade the terminal through (i) strengthening and 90m extension of berth #7; (ii) reconstruction on 150m and strengthening on 250m of berth #6 to accommodate larger vessels; (iii) demolishment of the finger jetty and unused berths #4 and #5; (iv) reclamation around 2.5 k sqm; (v) procurement of 4 STS e-cranes (“the Project”). All project activities will be conducted within Marport’s existing footprint.

 

At the time of IFC’s review, in November 2022, the construction of 90 m extension of berth #7 was 95 percent completed by the construction contractor. Marport is in the process of contractor selection for the rest of the construction works planned to be started soon. The completion is expected to be at the end of 2024.

 

IFC does not have previous engagement with the Marport but TIL, a leading global port operator company, is a longstanding IFC client.

Overview of IFC's Scope of Review

IFC’s environmental and social (E&S) review of this proposed investment consisted of appraising the environmental health and safety (EHS) and social information submitted by the company and the 2019 Environmental Impact Assessment (EIA) covering Port and Marport-level activities (publicly available at http://eced.csb.gov.tr/jsp/ek1/20189) prepared as per the national regulations.

 

The appraisal included meetings with the company’s EHS and Human Resources (HR) staff and a site visit between October and December 2022. Meetings with representatives from Altas (a general management company responsible for managing, maintaining, and improving APF’s infrastructure for common areas), Ambarli Regional Port Authority   and the Marmara Neighborhood where the port located, were also held.

E & S Project Categorization and Applicable Standard

Environmental and Social Mitigation Measures

Stakeholder Engagement

Broad Community Support

Environmental & Social Action Plan