Arkas

Location:

Turkey

Project number:

41951

Business sector:

Transport

Notice type:

Private

Environmental category:

B

Approval date:

14 Dec 2010

Status:

Repaying

PSD disclosed:

10 Nov 2010

Translated version of this PSD: Turkish

Project Description

The EBRD is considering providing a senior loan in the amount of up to €21.4 million equivalent to Arkas Group, a leading Turkish transportation company. The loan will support the Company’s efforts to renew its transportation fleet.

Transition Impact

The Project’s expected transition results include:

  • the Project will support the Client in strengthening its diversified business mix, increasing its competitiveness and facilitating its fleet renewal.
  • the Bank will be instrumental in enhancing the safety and environmental standards of the Sponsor and its operations;

The Client

Arkas is Turkey’s largest private transportation group based in Izmir. The group’s companies are primarily involved in agency services, port operations, as well as in sea, road, and rail transportation. They also provide complementary services such as freight forwarding, machinery and vehicle maintenance, and warehousing. Arkas’s technical capabilities, integrated logistics chain, and strong relationships with international shipping majors provide a solid basis for the company’s further growth.

EBRD Finance

Dual currency senior corporate loan of up to €21.4 million equivalent.

Project Cost

Up to €37.7 million.

Environmental Impact

Categorised B. The environmental and social impacts associated with the acquisition of freight wagons, new road haulage trucks and two double hulled tankers can be readily identified and addressed through mitigation measures.

An audit and analysis of the project to assess compliance with the Banks Performance Requirements is due to be finalised shortly. Initial results indicate a satisfactory level of compliance and it is noted that Arkas has well established and effective management systems.

An initial Environmental and Social Action Plan has been drafted, but as due diligence is ongoing this will need to be finalised and agreed with Arkas prior to Final Review.

Technical Cooperation

None.

Company Contact

Arkas Holding

Liman Caddesi Arkas Binasi No:38 Alsancak 35230 Izmir, Turkey

Tel: (90 232) 477 77 77
Fax: (90 232) 411 00 00 – 411 00 11

arkasizm@arkas.com.tr
www.arkas.com.tr

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
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. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

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