Translated version of this PSD: Turkish
The loan will be used to finance the company's optimisation, expansion and refurbishment programme for 2016- 2017.
The project will include: (1) acquisition of new petrol station dealerships and (2) petrol station refurbishments across the Balpet network.
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.
Balpet Petrol Ürünleri Tasimacilik Sanayi ve Ticaret A.S. (Balpet), a fuels distribution and logistics company operating in Turkey.
EBRD Finance Summary
Up to USD 11 million senior loan to Balpet.
Total Project Cost
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.
Review of Sustainable Energy Opportunities (EUR 32,050) financed by the EBRD Shareholder Special Fund.
Company Contact Information
For business opportunities or procurement, contact the client company.
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Tel: +44 20 7338 7168
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