Ekol Ro-Ro II

Country:

Turkey

Project number:

49067

Business sector:

Transport

Notice type:

Private

Environmental category:

B

Target board date:

26 Apr 2017

Status:

Concept Reviewed

PSD disclosed:

02 Mar 2017

Translated version of this PSD: Turkish

Project Description

A senior loan to Alternative Tasimacilik A.S (Alternative) to finance the acquisition of a roll-on/rolloff (ro-ro) vessel to provide international sea transportation services from Haydarpasa in Turkey to Trieste, Italy. Alternative was established in 2012 by Ahmet Musul, the founder and the majority shareholder of Ekol Lojistik A.S.

Project Objectives

The acquisition of the vessel by Alternative will allow Ekol to increase profitability and operating efficiency through the implementation of intermodal solutions that provide cost benefits as well as strategic competitive advantages derived from having better control over schedules and availability.

Transition Impact

The project is consistent with the EBRD's Green Economy Transition approach and is a good example of an investment promoting low carbon footprint. Ro-ro vessels form an integral part of developing the motorways of the sea by which trucks and trailers are moved off roads and are transported by sea at significantly lower carbon footprint per unit in addition to savings in time, border crossing fees and other benefits.

Client Information

ALTERNATIVE TASIMACILIK AS

Alternative, a special purpose company established in Istanbul in November 2012, is 100 per cent owned by Ahmet Musul, the founder and the majority shareholder of Ekol Lojistik A.S. Ekol is currently one of the largest third-party logistics providers operating in Turkey with over 40 locations in 25 cities in Turkey and 18 locations in 9 European countries.

EBRD Finance Summary

EUR 10,000,000.00

Total Project Cost

EUR 55,500,000.00

Environmental and Social Summary

The project is categorised B under the 2014 Environmental and Social Policy. The acquisition and operation of an additional ro-ro vessel to provide international maritime logistics services is associated with limited environmental and social impacts that can readily be identified and mitigated.

The environmental and social due diligence (ESDD) will assess Ekol's performance under the existing project and ensure the technical specifications for the new vessel to be acquired are compliant with international standards of maritime safety and environment.

Ekol is the Bank's existing client and the ESDD for the proposed project will build on the findings of the due diligence undertaken for the previous project in 2014, which showed that the company's current operations and vessels meet internationally recognised maritime environmental and safety standards (including IMO, MARPOL and SOLAS). The ESDD will be based on a questionnaire to be completed by the company and following its review by the EBRD's Environmental and Sustainability Department, additional assessment may be required on specific aspects of the company's operations. A review of environmental and social risks associated with the shipbuilding will also be part of the ESDD. The current Environmental and Social Action Plan will be amended and updated as necessary to require the company and its operations to continue to comply with the Bank's performance requirements.

This project summary document will be updated to summarise the key findings and conclusions once the ESDD is completed.

Technical Cooperation

None.

Company Contact Information

Rasim Kartal
rasim.kartal@ekol.com
+90 216 564 3016
www.ekol.com

Business opportunities

For business opportunities or procurement, contact the client company.

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Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations.
Text of the PIP

Project Complaint Mechanism (PCM)

The EBRD has established the Project Complaint Mechanism (PCM) to provide an opportunity for an independent review of complaints from one or more individuals or from organisations concerning projects financed by the Bank which are alleged to have caused, or likely to cause, harm.

Project Complaint Mechanism

Any complaint under the PCM must be filed in accordance with the timeframes prescribed in the PCM Rules of Procedure. You may contact the PCM Officer (at pcm@ebrd.com) for assistance if you are uncertain as to the eligibility of your complaint.