Financing efficient and sustainable transport networks€¦ · Ukraine, etc.) • Construction of...
Transcript of Financing efficient and sustainable transport networks€¦ · Ukraine, etc.) • Construction of...
Financing efficient and sustainable transport networks EBRD experience in promoting transport solutions
February 2016
OFFICIAL USE
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OFFICIAL USE
What is the EBRD?
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• An international financial institution,
promotes transition to market
economies 36 countries from central
Europe to central Asia and the Southern
and Eastern Mediterranean – SEMED
region.
• Owned by 64 countries and 2
inter-governmental institutions (EU, EIB).
• Capital base of €30 billion.
• Cyprus and Greece became recipient
countries on a temporary basis in May
2014 and 2015, respectively.
• EUR 107 billion invested since 1991, in
4,400+ operations.
EU 27 Countries (1)
58.7%
EBRD region excluding EU
13.8%
Others 8,7%
USA 10,1%
Japan 8,6%
Shareholding structure - EBRD has a AAA rating from all
three main rating agencies (S&P, Moody’s and Fitch)
(1) Includes European Community and European Investment Bank (EIB)
each at 3%. Among other EU countries: France, Germany, Italy, and the
UK each holds 8.6%
Mission and Vision Three Key Principles
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Transition Impact
Sound Banking
EBRD
Additionality
Promotes transition to market
economies, private ownership and good
governance with respect for people and
environment
Supports, but does not replace,
private investment. Provides
financing otherwise not available,
at reasonable terms Invests in financially viable
projects, together with the
private sector
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EBRD’s objectives achieved through
financing the private sector
AAA/Aaa rated multilateral
development bank
Invested over EUR 107 billion in more than
4,400 projects since 1991
In 2015:
• EUR 9.3 billion invested in 381 projects
• Private sector accounted for 70% share
• Debt 82%, Equity 14% & Guarantee 4%
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Net c
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Annual busin
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Debt ABI
Equity ABI
Net Cumulative Business Investment
Net cumulative business investment EUR107bn
E EUR billion
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Geographic Coverage
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Country Group Portfolio Distribution
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18%
15%
17%
14%
20%
4%
1%
14%
15% South-eastern Europe - 15%
Eastern Europe & Caucasus -17%
Central Asia - 14%
Turkey - 20%
Russia - 1%
Greece & Cyprus - 4%
Central Europe & Baltics - 14%
Southern & Eastern Mediterranean - 15%
Net cumulative business investment €107bn
Note: as at end December 2015
Projects in all key business sectors
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Transport
Agribusiness
Financial Institutions
Manufacturing &
Services
Municipal & Environmental
Infrastructure
Power & Energy
Natural Resources
Property & Tourism
Telecommunications,
Informatics & Media
Equity Funds
Nuclear Safety
Climate Finance
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Extensive offer of tailored financial products
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Debt Equity
• Senior, subordinated, convertible
• Loans to the private sector (up to 35%, syndicating the rest), including SME
• Sovereign, sovereign guaranteed and loans to state owned companies
• Debt co-financing, with commercial banks and IFIs
• Project finance loans (incl. PPP)
• Hard/local currency. Fixed/floating rates
• Syndication under preferred creditor status
• Access to capital markets
• Common or preferred stock
• Minority position only (up to 25%), investing with majority sponsor to reduce equity burden and add partnership value.
• Privatisation and initial public offering (IPO)
• Mezzanine equity and subordinated debt
• Infrastructure funds
• PPP
Technical Cooperation
EBRD brings in additional financial capital and technical assistance (TC) to
economically viable projects
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Benefits of working with us EBRD’s Value-Added: a unique offering
• Strong, internationally recognised partner with long term
perspective
• Higher risk appetite than other lenders, including political risk
• Long established policy dialogue with Government and
Regulators
• Unparalleled presence in the region, unique mandate and
shareholder structure provides mitigation of political and
regulatory risks
• Preferred creditor status in all countries of operation
• Catalyst to access additional (long term) finance
• Flexible deal structure and product matching services, including
financing in local currency
• Dedicated team with expertise in a variety of sectors and
countries
• Donor-funded technical assistance available for economically
viable sustainable development projects
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EBRD in the Transport Sector
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Transport within Infrastructure Business Group
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INFRASTRUCTURE Business Group
TRANSPORT
South & Central Europe, SEMED
Albania, Armenia, Azerbaijan,
Belarus, Bosnia and
Herzegovina, Bulgaria, Croatia,
Cyprus, Egypt, Estonia, FYR
Macedonia, Georgia, Greece,
Hungary, Jordan, Kosovo,
Latvia, Lithuania, Moldova,
Montenegro, Morocco, Poland,
Romania, Serbia, Slovak
Republic, Slovenia, Turkey,
Tunisia, Ukraine
MEI
South & Central Europe, SEMED
Albania, Armenia, Azerbaijan,
Belarus, Bosnia and
Herzegovina, Bulgaria, Croatia,
Cyprus, Egypt, Estonia, FYR
Macedonia, Georgia, Greece,
Hungary, Jordan, Kosovo,
Latvia, Lithuania, Moldova,
Montenegro, Morocco, Poland,
Romania, Serbia, Slovak
Republic, Slovenia, Turkey,
Tunisia, Ukraine
INFRASTRUCTURE
Russia & Central Asia
Kazakhstan,
Kyrgyz Republic,
Mongolia,
Russian Federation,
Tajikistan,
Turkmenistan,
Uzbekistan
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The Transport Team at EBRD
• Transport Team is part of EBRD Infrastructure Business Group with
over 30 banking and sector professionals
• Headquartered in London, with dedicated sector bankers in local
EBRD resident offices
• Dedicated in-team specialists to support project needs including
procurement, sustainable strategies and monitoring
• EBRD offers banking services (debt and equity) to clients across
every transport mode: railways, maritime, aviation and roads1
• More info at www.ebrd.com/transport
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Transport at a glance2
• EUR 14.0 billion invested
• Total project value: EUR 52.3 billion
• 277 projects
• 33 of the EBRD’s countries of operation
1. Urban Transport is competence of the Municipal & Environmental Infrastructure Team
2. Data at end December 2015
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EBRD’s presence in Transport Sector
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Portfolio by Region Portfolio by Sector
The Bank supports the development of efficient multimodal networks,
investing a total of EUR 14 billion as of end December 2015
across all sectors and regions to support 277 projects
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Aviation 6% 41 projects/ €0.9 bn
Intermodal 5% 17 projects/ €0.7 bn
Ports and Shipping 9%
54 projects/ €1.2 bn
Rail 34% 80 projects/ €4.7 bn
Road 46% 85 projects/ €6.5 bn
Central Asia 12% 34 projects/ € 1.7 bn
Central Europe and Baltics 17% 62 projects/ €2.4 bn
Eastern Europe and Caucasus 17%
54 projects/ €2.4 bn
Regional 2% 4 projects/ €0.2 bn
Russia 20% 41 projects/ €2.8 bn
SEMED 2% 2 project/ €0.3 bn
South-Eastern Europe 25% 68 projects/ €3.5 bn
Turkey, 5% 12 projects/ €0.6 bn
The Bank invests in a broad range of Transport
projects including, but not limited to…
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Road
Road rehabilitation and construction of new highways,
secondary and rural roads, by-passes, maintenance equipment
and contracting, toll-motorway construction and operation
Rail
Aviation
Ports &
Shipping
Rehabilitation, maintenance and construction of rail
infrastructure (track, signaling, power supply, civil structures),
rolling stock, maintenance and ancillary facilities
Rehabilitation and construction of port infrastructure (berths,
quays, land access), superstructure (warehouses, gantries),
inland waterways, and vessels (acquisition and retrofitting)
Rehabilitation and construction of airport infrastructure and
terminals for passenger & cargo, airline finance, air navigation
services (ANS)
Logistics &
Intermodal
Construction of intermodal terminals & logistic centres, fleet
and equipment, support to intermodal operators
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EBRD in the Road Sector
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• Investing in key road projects with a positive balance of social, environmental and economic impact in the region
• EBRD targets investments to:
− Address bottlenecks
− Reduce transport costs and emissions
− Integrate rural regions and facilitate trade
− Upgrade road safety standards
− Support regional integration and key corridors (TEN, CAREC, etc.)
• Promotion of the introduction of commercial principles and PPP in the management of road infrastructure
• Capacity building on road safety and outreach activities in the context of the Decade of Action for Road Safety
• Implementation of ITS technologies to improve traffic management
At a Glance
• No. projects: 85 (31% of portfolio)
• No. Countries: 25
• EBRD Finance/Project Value: EUR
6.5 billion / EUR 27.2 billion
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Some references in the Road Sector
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• Removal of bottlenecks and reduction of traffic congestion through financing key road infrastructure (WHSD, St Petersburg/Eurasia Tunnel, Istanbul, etc.)
• Involvement of private sector in PPP revenue generating projects that meet economic and financial criteria (R1, Slovakia/M6, Hungary, etc.)
• Introduction of commercial criteria in the management of road infrastructure (Albania, Bosnia & Herzegovina, FYR Macedonia, etc.)
• Road Construction and rehabilitation to ensure an efficient network and road safety (Kyrgyz Republic, Kazakhstan, Azerbaijan, Ukraine, etc.)
• Construction of rural roads to improve accessibility in rural areas (Albania, Tajikistan, etc.)
• Provision of donor funding to support corporate reform, road safety and the introduction of new technologies
Some clients in the road sector
Private companies
State-owned companies
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EBRD in the Rail Sector
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• EBRD supports rail development in the region:
− Rehabilitation or construction of new track, signalling, power supply and maintenance to develop a more competitive system
− Rolling stock and maintenance facilities
− Station rehabilitation and management, traction energy and telecommunications
− Balance Sheet restructuring and corporate finance
• Financing rail reform through different players:
Long term sovereign and non-sovereign debt to
state-owned companies, in addition to debt to
private operators
• Focussed on bringing infrastructure to
international standards of safety, security and
environmental compliance
• Promoting the rail system as an environmentally
sustainable transport mode, whilst encouraging
energy efficiency technologies to keep its
competitive advantage
At a Glance
• No. projects: 80 (29% of portfolio)
• No. Countries: 24
• EBRD Finance/Project Value: EUR 4.7
billion / EUR 15.5 billion
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Some references in the Rail Sector
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• Renewal of the rolling stock: acquisition of
wagons by private operators (Russia, Ukraine,
Kazakhstan, etc.), EMUs and modern
locomotives (Croatia, Serbia, FYR Macedonia,
Montenegro, Egypt, etc.)
• Investments in energy efficient technologies in
ancillary infrastructure (Russia, Serbia, FYR
Macedonia, etc.). Capacity building support
with regards energy efficiency
• Expanding capacity through new rail
infrastructure and major rehabilitation works
(Serbia, FYR Macedonia, Montenegro, Kosovo)
• Promotion of rail competitiveness along the
Trans-European Strategic Corridors (Corridor X,
Corridor VIII, etc.)
• Innovative PPP schemes including the
refurbishment and commercial operations of
rail stations in the Czech Republic
Some clients in the rail sector
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EBRD in the Maritime Sector
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At a Glance
• No. projects: 54 (20% of portfolio)
• No. Countries: 18
• EBRD Finance/Project Value: EUR
1.2 billion / EUR 4.2 billion
• As the most energy efficient mode of mass
transport, carrying 90% of world trade, the Bank
supports capacity development to meet growing
demand efficiently:
− Active support of private sector involvement in greenfield projects
− Terminal and port structures and development of state-owned infrastructure
− Finance of fleet modernisation and retrofitting in a market dominated by over-aged vessels
− Introduction of Energy Efficiency best practices (port environment and vessel operators) and compliance with IMO regulations
− Promotion of short sea shipping
• Long established policy dialogue with regional
governments on the commercialisation of port
infrastructure and the separation of port
infrastructure management from the state
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Some references in the Maritime Sector
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• Pre and post delivery financing of Fleet
modernisation and capacity development
(Fesco, VBTH, BSSM, Circle Maritime Invest,
ER Deniz etc.)
• Partnering with IMO to build capacity about
environmental protection in the shipping
industry (ballast water management)
• Expanding port infrastructure (Albania,
Romania, Lithuania, Turkey etc.) contributing
to more efficient and sustainable transport
routes
• Support to greenfield projects under
concession terminal and port structures
• Contributing to greening port activity through
capacity building in equity participation
(Globalports) or the introduction of innovative
technologies (Klaipeda)
• Supporting a more efficient maritime
navigation system in the Gulf of Finland
Some clients in the maritime sector
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EBRD in the Logistics & Intermodal Sector
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1. Excludes those projects already accounted for under other subsectors
At a Glance1
• No. projects: 17 (6% of portfolio)
• No. Countries: 7
• EBRD Finance/Project Value: EUR 0.7
billion / EUR 1.9 billion
• A Sustainable transport system requires the
development of a multimodal network to
facilitate intermodal services
• The Bank assists private operators to structure
their investments efficiently to take advantage
of new opportunities
• Fleet renewal of private and state-owned
companies on a commercial basis
• Freight infrastructure, logistic centres, etc.
• IPO participation and in the private placement
of logistic operators
• Development of intermodal services and green
logistics
• The Bank is able to support privatisation
alongside a strategic investor as a debt or
equity partner
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Some references in Logistics & Intermodal Sector
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• Intermodal operations – multipurpose
logistics hubs, marshalling yards, diversified
transportation network connections (Arkas,
Danube Logistics, Fesco, PIMK etc.)
• Fleet acquisition (Globaltrans,
Transcontainer, JN Nurinem, etc.)
• Freight infrastructure – cargo warehousing,
cold warehousing, machinery
• Port infrastructure – Container handling
operations, inland infrastructure
(Euroterminal Odessa, Poti Port, etc.)
• Capital markets – Eurobonds, Initial Public
Offerings, Secondary Share Offering, Private
Placement (Global Ports Investments, Fesco,
Brunswick Rail, Globaltrans, etc.)
• Provision of donor funding to enhance
corporate governance and environmental
standards
Some clients in the logistics sector
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EBRD in the Aviation Sector
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At a Glance
• No. projects: 41 (15% of portfolio)
• No. Countries: 18
• EBRD Finance/Project Value: EUR
0.9 billion / EUR 3.5 billion
• Regional specialist, increasing private sector
engagement through PPPs and the provision
of outsourced services
• Financing to airports, air navigation
providers and airlines to improve passenger
comfort and safety
• Promotion of modern air navigation systems
facilitating efficient route management and
landing operations. Actively supports
affiliation with international organisations
such as Eurocontrol
• Enhancing aviation safety and
environmental standards by promoting
international best practice
• Promoters of energy efficiency in the sector,
including governance standards, emission
reduction and improvements to the built
environment
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Some references in the Aviation Sector
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• Regional Specialist delivering PPP
schemes at key international airports in
the region (Tirana, Tbilisi, St Petersburg ,
Yerevan, Izmir, Dalaman etc.)
• Modernisation of air navigation systems,
allowing shorter routes and significant fuel
savings (Serbia, Croatia, Ukraine, etc.)
• Enhancement of the safety of commercial
aviation and development of civil aviation
in general
• Replacement of the oldest aircraft in
Ukraine or Tajikistan, contributing to the
development of a safer and more energy
efficient sector
• Introduction of the highest energy
efficiency standards in the design of
airport terminals in St. Petersburg and
Izmir
Some clients in the aviation sector
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Case Studies
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Case Study Global Ports Holding , Turkey
Client: Global Ports Holding (GPH), the world’s largest operator of cruise
port/terminals based in Turkey
EBRD finance: EUR 53.4 million
Type of finance: Equity investment
Total Project cost: EUR 281 million
Year: 2015
Project description: A pre-IPO equity investment to support GPH expansion strategy
including port acquisitions in the EBRD Countries of Operations
Impact: Support to the company’s expansion plans
Improvement of corporate governance standards through adoption
of corporate governance action plan and enhanced disclosure
Enhancement of environmental standards and implementation of
environmental and social action plan
The Project supports a quality private operator in their international expansion
strategy to other port/terminal facilities in the Mediterranean Sea and beyond to
enhance port interconnectivity and passenger flow.
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Case Study M6 Motorway, Hungary
Client: M6 Duna and M6 Tolna, two Concession Companies incorporated in
Hungary, awarded in 2004 and 2008 respectively, concession
contracts to design–build–finance–operate Phases I and II of the
M6 Motorway.
EBRD finance: EUR 30 million
Type of finance: Equity investment
Total Project cost: EUR 65 million
Year: 2015
Project description: Acquisition of minority equity stakes in M6 Duna and M6 Tolna, the
concessionaires of the M6 Motorway Phases I and II in Hungary.
Impact: Development of a Secondary Market for PPPs in Hungary through
an equity investment alongside renowned private institutional
sponsors in the infrastructure sector, allowing new sources of
capital and new types of more sophisticated financiers (e.g. equity
funds) to enter the market.
Improvement of standards of corporate governance through
adoption of best market practices
The Project promotes the Bank’s vision of market-based transport networks by supporting a
secondary market transaction together with other financial and institutional investors.
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Case Study Regional Roads Project, Kosovo
Client: Ministry of Infrastructure of Kosovo (MI)
EBRD finance: EUR 29 million
Type of finance: Senior Loan
Total Project cost: EUR 38.45 million
Year: 2015
Project description: Rehabilitation of a 15km road section from Kllokot to Gjilan and the
upgrade of 11.2 km of access roads in the cities of Ferizaj, Gjilan
and Prizren in Kosovo.
Impact: Strengthening of implementation capacities and development of
internal approval procedures to increase the efficiency of project
preparation and implementation as well as to facilitate the provision
of financing.
Enhancement of Kosovo’s procurement and Environmental and
Health & Safety capacities through preparation of procurement
manuals and development of procurement procedures including on-
the-job training for the project implementation unit staff.
The project contributes towards the transformation of a sovereign client into a commercially-
oriented entity through sector reform. It also contributes towards national integration and
regional development.
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Case Study Olimpex Dry Port, Ukraine
Client: GNT Olimpex Holding Ltd., a holding company of a group of leading
private port operators in Ukraine
EBRD finance: USD 18.7 million
Type of finance: Senior Loan
Total Project cost: USD 18.7 million
Year: 2015
Project description: Development of a grain cleaning and drying facility located on the
territory of a "dry port" in the neighbourhood of the Port of Odessa
Impact: Adoption of best practice business standards by the Sponsor,
including the introduction of efficient energy management systems,
setting standards for other industry players
Improvement of the efficiency of grain supply chain and
enhancement of competition in the grain export sector via
enablement of a wider access to global soft commodities markets
by the local producers
Engagement of the company in EBRD’s policy dialogue aimed at
bringing together the private and public sectors with the aim of
intensifying dialogue over key issues affecting barriers to private
sector investment.
The project contributes towards achieving a more market-based approach to providing
transport infrastructure and services to the wider economy.
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GNT Olimpex
Holding Ltd.
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Case Study R1 Motorway Refinancing, Slovakia
Client: Granvia, a special purpose vehicle owned by VINCI Concessions SA
and Meridiam Infrastructure Fund
EBRD finance: EUR 200 million
Type of finance: Project Bond
Total Project cost: EUR 1,243 million
Year: 2013
Project description: Refinancing of the R1 Motorway PPP project
Impact: Optimising the long-term financing of newly constructed sections on
the R1 Motorway PPP between Nitra and Tekovske Nemce and the
Banska Bystrica Northern Bypass, totalling 51.6 km
Fostering economic development in central Slovakia through
provision of private sector engagement in road sector financing
The project demonstrates EBRD engagement as a long term partner in support of the
Slovakian Government’s PPP programme, following on from the successful construction and
operational start of the R1 Motorway.
Industry Recognition 2013
PFI Award 2013 - Bond Deal of the Year – Europe
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Client: Stadler Minsk, the JV between Stadler Rail, a Swiss leading system
supplier of customer-specific solutions for rolling stock, and the Minsk
Region Executive Committee, an executive government body in
Belarus
EBRD finance: EUR 26.0 million
Type of finance: Senior Loan
Total Project cost: EUR 73.7 million
Year: 2013-2014
Project description: Construction of new modern production facilities on a greenfield site
and the modernisation of existing tram and trolleybus production
facilities of Belkommunmash (BKM), a leading Belarusian
manufacturer of trolleybuses and trams in CIS
Impact: Utilising the latest manufacturing technologies and providing skills
and know-how transfer from Stadler to the JV’s local employees
Demonstrating the successful reorganisation of a state-owned
entity to a majority privately-owned company controlled by a
Western strategic sponsor through the establishment of the JV
Introducing an enhanced management system structured in
accordance with international standards
The project supports the reorganisation and commercialisation of a state-owned entity into a
majority private-owned company, and introduces advanced technologies in manufacturing of
rolling stock.
Case Study Rail Wagon Production Facilities, Belarus
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Client: Mersin International Port
EBRD finance: EUR 61.2 million
Type of finance: Eurobond
Total Project cost: EUR 634 million
Year: 2013
Project description: Financing part of the capital investment programme for the capacity
expansion of Mersin Port and optimisation of the Company’s long
debt financing
Impact: Demonstrating new ways of financing infrastructure through
participation in the debut bond issue by an infrastructure company
Contributing to improvement in the quality and variety of port
services, expansion of the product offering by the Company, and
encouraging further development of regional port hubs as well as
increased transhipment
Strengthening competitive position of Mersin port with respect to
its main competitors in the Eastern Mediterranean
Case Study Turkey’s First Infrastructure Bond – Mersin Port
Industry Recognition 2013
Port Deal of the Year (MEA)
The project demonstrates a new way of financing for private Turkish infrastructure
companies via Eurobond issue and supports private sector investments in port infrastructure
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Client: DCT Gdansk S.A.
EBRD finance: EUR 31.0 million
Type of finance: Senior loan
Total Project cost: EUR 361.0 million
Year: 2014
Project description: Construction of the second deep-water container terminal at the Port
of Gdansk, home to the only deep-water container port facility in
Poland
Impact: Doubling the Polish containerisation ratio from 43 TEU per 1,000
inhabitants handled annually in 2014 to 86 TEU handled by 2020
Expanding the market interactions in other sectors by supporting
the development of intermodal logistics transport in Poland as well
as alleviating bottlenecks and capacity constraints
The project supports market expansion through a capacity increase in deep sea cargo
infrastructure, as well as the incorporation of cutting edge technologies and best practices in
energy management to consolidate its strong energy efficiency focus
Case Study Deep-Water Container Terminal, Poland
Industry Recognition 2014
European Port Deal of the Year
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Client: PIMK Holding Group AD
EBRD finance: EUR 5.0 million
Type of finance: Senior Loan
Total Project cost: EUR 7.6 million
Year: 2015
Project description: To finance PIMK’s investment in an intermodal cargo terminal for
loading/unloading of standard unaccompanied semi-trailers
Impact: The project will support expansion of logistics and intermodal
services by the private sector, leading to a more efficient, reliable
and cost effective transport system
Promoting a switch to greener transport modes for European
freight traffic, encouraging lower-emission in the sector.
The project supports a leading Bulgarian company operating in international freight transport
Case Study PIMK, Bulgaria
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Client: YDA Havalimani Yatirim ve Isletme A.S, a special purpose company
established by YDA construction
EBRD finance: EUR 162 million (EUR 81million A loan and EUR 81million B loan)
Type of finance: Senior loan
Total Project cost: EUR 372.6 million
Year: 2014
Project description: Construction of a new domestic terminal for Dalaman Airport including
ancillary facilities
Impact: Expansion and further consolidation of private sector involvement in
the transfer of benefits in terms of quality, efficient risk allocation,
cost efficiency and timely delivery of large infrastructure investment
Establishment of systematic approach to Energy Management
based on the framework of continuous improvement and roll out of
Energy Management System for all operations
The operation supports a private sector operator to design, construct and operate a new
domestic terminal for Dalaman Airport and to manage the existing international terminal
(from May 2015) under a Concession Agreement until 2040. This is the first regional airport
PPP financed by the Bank in Turkey. The project also aims to enhance standards for corporate
governance and business conduct.
Case Study Dalaman Airport, Turkey
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Transport Finance Deal of the Year (Dalaman Airport)
Local Bond Deal of the Year (YDA)
Project
Summary
Case Study Armenia International Airport Phase II
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Client
Armenian International Airports CJSC (ArIA), incorporated in Armenia and controlled by American International Airports LLC. ArIA has obtained a 30-year concession to manage operations at Zvartnots Airport, Yerevan
EBRD Finance
US$ 40 million equivalent senior loan; parallel financing to be provided by DEG and ADB. Total project cost is US$ 173 million
Use of proceeds
Construction and purchase of equipment for the second phase of the passenger terminal complex at Zvartnots International Airport (after successful completion, in 2007, of the first phase of the passenger terminal, for which EBRD provided a US$ 20 million loan)
EBRD value added
Private ownership support in the sector; demonstration effect in the Caucasus region; transfer of know-how; increase of competition in regional air transportation
2009 Signed in
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Recent awards and recognition
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EUR 162 million EBRD loan syndicated
to commercial lenders, while total
project size is EUR 372.6 million.
Proceeds to be used for construction of
a new domestic terminal for Dalaman
Airport.
Turkey Bonds & Loans Awards 2015
Transport Finance Deal of the Year
Dalaman Airport,
Turkey
EUR 81 million projects, partially
financed by EBRD senior loan of EUR
27.5 million and a parallel SEB loan
Proceeds were used to expand
container terminal at Klaipeda Port.
Lithuania Investors’ Forum
Investor of the Year 2014
Klaipedos Smelte,
Lithuania
EBRD EUR 75 million senior loan, co-
financed by a syndicate of commercial
lenders providing the remaining EUR
259 million of the debt facility
Proceeds were used to for the capital
investment to construct a second
container terminal at the Port of
Gdansk
IJGlobal Europe & Africa Award 2014:
European Port Deal of the Year
DCT Gdansk,
Poland
Contacts & Useful Links
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Sue Barrett
Director – Transport
tel: + 44 207 338 6733
email: [email protected]
EBRD
One Exchange Square
London EC2A 2JN, United Kingdom
For all transport sector enquiries, please
contact :
OFFICIAL USE
Leonor Fontoura
Business Development Representative – North America
tel: + 1 (202) 817 0601
email: [email protected]
EBRD
Representative Office - North America
Washington D.C. (soon opening)
For all EBRD enquiries, please contact :
Working with us: http://www.ebrd.com/work-with-us.html
- Project Finance, including Project Summary Documents:
- Procurement, including Project Procurement, Consultancy Services, other opportunities
Useful Links