Translated version of this PSD: Turkish
The EBRD is considering providing a senior A/B loan of up to €175 million to YDA Havalimani Yatirim ve Isletme A.Ş, a special purpose company established by YDA Insaat San. ve Tic. A.Ş, to support the construction of a new domestic terminal at Dalaman Airport, and the operation of this domestic terminal together with the international terminal based on a concession agreement until the end of 2040.
The loan would comprise an A-loan portion of up to €87.5 million for the EBRD’s own account, and a B-loan portion of up to €87.5 million syndicated to a commercial bank.
The EBRD’s financing would increase private sector participation in the development, management and operation of airport infrastructure in Turkey, and would contribute to supporting the growth of the regional economy of one of the most popular tourist destinations in Turkey.
The project comprises construction of a new domestic terminal with its auxiliary structures, including road access and parking facilities, and demolition of the existing domestic terminal upon completion of the new terminal.
The transition impact of the project will be derived from:
(i) Private ownership – additional risk transfer to the private sector. The project supports a private sector operator in constructing a new domestic terminal and providing relevant airport operation services both in the domestic and international terminals of the regional airport in Dalaman until 2040 based on full traffic risk (both domestic and international).
(ii) Setting standards of corporate governance and business conduct: the project will implement high performance measures through assessment of the existing international terminal, lifecycle assessment of energy costs in the design of the new domestic terminal (including advanced sustainable building technologies, such as modular heating systems, as well as the installation of solar PV panels in the apron), and pursuit of an ISO certified energy management structure for the entire airport operation.
YDA Havalimani Yatirim ve Isletme A.Ş, a special purpose company established by YDA Insaat San. ve Tic. A.Ş.
A senior loan of up to €175 million under an A/B-loan structure as follows:
- A-loan up to €87.5 million to the EBRD’s own account;
- B-loan up to €87.5 million syndicated to a commercial bank.
Up to €372.4 million.
The project has been categorised B in accordance with EBRD's 2008 Environmental and Social Policy as the environmental and social impacts associated with the construction of a new domestic terminal at Dalaman airport can readily be assessed and mitigated as part of environmental and social due diligence. The applicable performance requirements for the project are 1-6, 8 and 10.
The project is exempt from the provisions of the Turkish Environmental Impact Assessment Regulation issued in Official Gazette dated 3 October 2013 and numbered 28784, as per Provisional Article No:3 of the Regulation. However, YDA appointed an independent consultant (MGS) to prepare an Environmental and Social Impact Assessment (ESIA) which considered lender requirements and shall be publicly disclosed once finalised.
The ESIA takes into account the potential impact on air, water, waste, soil quality, noise and the neighbouring settlements during construction and also operation due to the increase in activities land and air-side. A non-technical summary has been prepared together with an environmental and social management plan defining the mitigation measures that will be applied on site.
Environmental and social due diligence was undertaken by an independent consultant appointed by the Bank, which included a review of the draft ESIA, company management systems and contractor management requirements. This review, which is still being finalised, concluded that during the demolition and construction of the terminal, the impact and risks will include traffic congestion; occupational and community health and safety; noise; dust; air emissions of construction equipment and vehicles. These will be temporary and mostly confined to the construction site and its immediate vicinity. Impacts will be minimized through good construction management practices. During operation, the development is expected to support the growth of the regional economy particularly with respect to tourism.
The project will provide short term employment opportunities during the construction phase (approximately 650 jobs). Workers not living in the local area will be provided with accommodation, which will meet the standards of EBRD guidelines for Workers’ Accommodation: Processes & Standards. A construction health and safety plan, employee training programs and site inductions that address construction safety will be implemented in line with good industry practice.
An environmental and social action plan is currently being finalised to ensure that the project is structured to meet the Bank’s performance requirements. The main actions will be related to environment, health and safety management systems; contractor management; occupational and community health and safety (including emergency preparedness and response); life and fire safety; noise, air and waste management; and labour and working conditions (including worker accommodation). A stakeholder engagement plan has been developed and implementation will be included in the environmental and social action plan.
The company will provide the Bank with environmental and social reports, including updates on the implementation of the environmental and social action plan. An independent consultant will carry out monitoring and site visits and the Bank may also conduct monitoring visits on a risk driven basis, as required.
A. Türkekul Doğan - Head of Corporate & Project Finance
Tel: +90 312 459 4444; Mobile: +90 530 312 2678
For business opportunities or procurement, contact the client company.
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
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