Balpet Gasoline Stations

Location:

Turkey

Project number:

47073

Business sector:

Natural resources

Notice type:

Private

Environmental category:

B

Target board date:

13 Jan 2016

Status:

Repaying

PSD disclosed:

09 Nov 2015

Translated version of this PSD: Turkish

Project Description

The loan will be used to finance the company's optimisation, expansion and refurbishment programme for 2016- 2017.

Project Objectives

The project will include: (1) acquisition of new petrol station dealerships and (2) petrol station refurbishments across the Balpet network.

Transition Impact

The transition impact is expected to stem from: (1) setting standards for corporate governance and business conduct; (2) demonstration of new replicable behaviours and activities; and (3) more widespread private ownership.

Client Information

Balpet Petrol Ürünleri Tasimacilik Sanayi ve Ticaret A.S. (Balpet), a fuels distribution and logistics company operating in Turkey.

EBRD Finance Summary

USD 11,000,000.00

Up to USD 11 million senior loan to Balpet.

Total Project Cost

EUR 12,341,134

Up to TRY 40.3 million (USD 14.4 million equivalent).

Environmental and Social Summary

The project has been Categorised as B in accordance with the EBRD's Environmental and Social (ESP) Policy 2014 and Environmental and Social Due Diligence (ESDD) has been undertaken by the Bank. The Borrower's portfolio of petrol filling stations is limited in extent and the assets that they do own are of relatively recent construction. Notwithstanding, the Borrower has a medium sized franchised network where Environment and Social (E&S) issues are required to be managed in a consistent manner.

ESDD identified that in order for the company and its existing and proposed expanded network to operate in accordance with the Bank's Peformance Requierments (PRs) a corporate level E&S policy is required to be developed. At an operational level a set of procedures will be derived from the corporate policies and a comprehensive management system will be developed, implemented and monitored across the network. An ESAP has been agreed with the client and the bank will monitor the project.

Technical Cooperation

Review of Sustainable Energy Opportunities (EUR 32,050) financed by the EBRD Shareholder Special Fund.

Company Contact Information

Osman Akinci
osman.akinci@bpet.com.tr
+90 216 466 50 66
+90 216 466 50 55
http://www.bpet.com.tr/en/

Tatlisu Mahallesi Akif Inan Sok No:10 Y.Dudullu / Ümraniye / Istanbul / Turkey

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