Marport is equally owned by Terminal Investment Limited (“TIL”) and Turkish corporate house, Arkas Group (“Arkas”). Arkas is the largest maritime and logistics group in Türkiye owned by Lucien Arkas and his family.

The total project cost is US$226 million. IFC contribution entails (i) an “A” loan of US$105.5 million, (ii) US$94.5 million Managed Co-lending Portfolio Program (“MCPP”) loan and a (iii) US$6 million indicative Loan-equivalent (LEQ) exposure for interest rate swaps.

Marport is in Ambarli Port Facility, along with three other adjacent ports, about 20 km from Istanbul on the north shore of the Marmara Sea on the European side of the Bosphorus. Marport handles cargo mainly for Istanbul and Türkiye’s European side together with the extended hinterland thereof thanks to variable liners and corridors served, as well as transshipment to other Türkiye ports, the Black Sea region, and some other European countries.

 This is a Category B project according to IFC’s Policy on Environmental and Social Sustainability. The environmental and social (E&S) risks and impacts associated with this project are limited, site-specific, largely reversible, and can be readily addressed through generally accepted mitigation measures and good international industry practices (GIIP).

Key E&S aspects reviewed as part of IFC’s appraisal include: (i) Marport’s E&S management system and capacity to assess and manage E&S risks and impacts from its operations; (ii) working conditions for employees and contracted workers, including freedom of association and gender/GBV; (iii) management of occupational health and safety (OHS) policies and practices; (iv) emergency response plans including fire, floods, spill prevention, and risk management; (v) disposal of effluent and solid waste, hazardous material storage, and handlings of dangerous cargoes; (vi) impacts of the berth expansion and cargo operations on the marine ecosystem in the Ambarli Port (including dredging and erosion); (vii) impacts on nearby communities and community engagement activities; and (viii) climate change.