- Altintel Port to expand operations with US$ 8.5 million EBRD loan
- Improvements will drive economies of scale and promote decarbonisation
- Company commits to creating greater career opportunities for women
Altintel Liman ve Terminal Işletmeleri, a liquid bulk port located in Kocaeli, western Turkey, is set for an environmentally friendly expansion with a US$ 8.5 million loan from the European Bank for Reconstruction and Development (EBRD).
The investment will finance the construction and installation of 18 chemical storage tanks and related infrastructure. This will increase the port’s total liquid bulk capacity by 23,164 m³ to 105,600 m³.
The new facilities will be used for the handling and storage of raw materials for the consumer goods, paint and coating, pharmaceuticals, agriculture, construction, electronics and automotive industries.
A modern, automated and digital sensor system operating the new port infrastructure will enhance energy and cost savings. It will pave the way for further decarbonisation of the port and make it more competitive.
In addition, Altintel Port is committed to working with the EBRD on expanding the company’s talent pool of women and creating greater career opportunities for them.
Sue Barrett, EBRD Director, Sustainable Infrastructure Group, said: “Our investment will support a significant improvement in the port’s operations. Installing efficient technology and automation systems, and replacing diesel equipment with electric equipment, will drive economies of scale. Capacity expansion will also mean shorter journey times and improved services for a wider client base.”
Levend Kokuludağ, Chairman of the Board of Arkem Group, the owner of the port, commented: “It has been a great honour for Arkem Group to work with the EBRD on the financing of Altintel Port’s expansion. On successful implementation of the current project, Altintel Port would like to further expand its capacities to satisfy increasing demand from new and existing clients.”
The EBRD is a major investor in Turkey. To date, the Bank has invested more than €14 billion through 353 projects in various sectors of the country’s economy, with 95 per cent of those investments in the private sector.