Railport Turkey



Project number:


Business sector:


Notice type:


Environmental category:


Approval date:

27 Apr 2022



PSD disclosed:

09 Mar 2022

Project Description

The provision of an additional USD 30 million commitment to Railport Terminal Isletmeleri A.S. ("Railport") to finance the first private inland terminal to provide intermodal cargo services in Turkey.

The Project Summary Document was originally disclosed on 20 July 2018 and a Loan Agreement, in the amount of USD 30 million, was signed between the EBRD and Railport on 9 May 2019.

An innovative business concept in Turkey's transport sector, the Railport will be located in the Kocaeli province of Turkey, a major industrial hub. It will service industries located within the Ankara, Bilecik, Bolu, Bursa, Duzce, Eskisehir, Kocaeli, Sakarya and Yalova regions. The terminal will have an annual capacity of 105,000 twenty-foot equivalent units (TEU) and 500,000 tonnes general cargo after implementation of the Phase 1 of the Railport. This capacity will be realised on a terminal area of 26.5 hectares, with 5,000 square meters of warehouse storage capacity.

The project involves the development of an intermodal hub for freight transport within Turkey and will facilitate freight rail transport within Turkey and between Asia and Europe, as well as among European, Balkan and Central Asian countries.

Project Objectives

The project involves design, construction, equipment and operation of an inland intermodal logistics terminal in Kocaeli, Turkey.

Transition Impact

ETI score: 61

The project's transition impact stems from the following key areas:

1. The project leads to material quality improvements of the current infrastructure services between and within regions that are currently inadequately integrated: the project involves the development of an intermodal hub for freight transportation within Turkey and between Asia and Europe, as well as among European, Balkan and the Central Asian countries. There are currently no intermodal terminals operating on the route connecting Turkey to Europe and Central Asia.

2.  100% of the EBRD funds will be dedicated to investments, which are in line with the Bank's Green Economy Transition (GET) approach. The new railport terminal will result in an improved routing of commodity flows both domestically and internationally via railways.

Client Information


Railport is a special purpose company incorporated in Turkey and owned by Limar Liman ve Gemi Isletmeleri A.S. ("Limar") (65.6 per cent), Arkas Holding A.S. ("Arkas") (1.0 per cent) and Duisburger Hafen Aktiengesellschaft ("Duisport") (33.3 per cent).

Limar was founded in 1996 and is the port and terminal operator affiliate of Arkas, providing port services to importers and exporters as well as scheduled container lines. Duisport is the owner and managing company of the Port of Duisburg in Germany. Duisport offers custom-made solutions through its infrastructure and superstructure, logistics services and packaging, logistics business segments from individual rail transport services to establishment and building management as well as comprehensive consulting services.

EBRD Finance Summary

USD 60,000,000.00

The EBRD is planning to increase its commitment from USD 30 million to USD 60 million.

Total Project Cost

USD 113,000,000.00

The total project cost is estimated at circa USD 113 million.


The Bank is highly additional, as long term project financing is not readily available in Turkey and the Sponsors and the Borrower were not able to secure the full amount of the required financing for the Project from local commercial banks at the required tenors. The Bank's involvement, its expertise in the rail sector, and innovative financial structuring of the transaction reduced the overall risk perception of the transaction and filled a funding gap required to structure the Project.

Environmental and Social Summary

Categorised B (2014 ESP). The Environmental and Social (E&S) risks and impacts associated with the construction and operation of an intermodal rail port terminal can be readily assessed and expected to be site specific and can be avoided or mitigated through good design, management practices and targeted E&S actions. The project is consistent with the GET approach, due to the shift from transporting goods on roads to rail. Currently, two existing railways lines are located adjacent to the project site. As part of the development of the area, the municipality will be providing new roads and new railway lines will be developed by the Turkish State Railways (TCDD) during the construction period. To support the project a siding and a manoeuvring line approximately 3kms long is already developed by TCDD which will be used for directing trains in and out of the Railport terminal. Only the connection line will be developed by the client and will link into the railway lines immediately outside the project site boundary.

Environmental and Social Due Diligence (ESDD) was carried out by Independent E&S Consultants. ESDD confirmed that the project site area was a vacant greenfield site and the client has secured the majority of leasing rights for the various land parcels and the remainder parcels due to be completed in Q1 2022. It was also identified during ESDD that no assets or structures will be significantly affected by the project. The proposed project site will not result in any involuntary resettlement, all land has been purchased on a willing buyer / willing selling basis and no physical resettlement will be required. The project site is surrounded by mainly industrial areas and small residences. Due to the nature and scale of the project, it is likely that the neighbouring industrial facilities and general public will be affected by the increase in vehicular and railroad traffic.

Environmental and social assessments that have been carried out to date have not identified any significant E&S concerns however additional studies will be carried out as part of the Environmental and Social Action Plan (ESAP). The construction and operation of the Railport terminal is covered under Annex II of the Turkish Environmental Impact Assessment (EIA) Regulations which fully align with EU Environmental Impact Assessment (EIA) Directive. A preliminary EIA of the project area was submitted to the Provincial Directorates of Environment and Urbanization (PDEU) and as a result the client has obtained an 'EIA Exemption' letter and certificate from the PDEU dated June 2017 to confirm this project does not require an EIA. The client has also confirmed they hold all the necessary environmental and construction permits for construction stage.

During the construction phase of the project, dust emissions are expected to be temporary and localised and not expected to affect areas beyond the project site. Based on the documents provided during ESDD environmental noise modelling was carried out for both the construction and operational phases of the project and it was estimated that the noise level will not exceed the stipulated noise limits values specified in the Turkish Industrial Air Pollution Control Regulation. During the operational phase of the project there will be approximately 300 trucks and 200 passenger vehicles entering and leaving the project site on a daily basis. Mitigation measures to address these impacts are included with the ESAP. A project specific ESAP has been developed and has largely already been implemented by the client.  These actions include the need for additional surveys, traffic management plan, Human Resources and Occupational Health and Safety (OHS) management systems and procedures, grievance mechanism, and E&S management plans including requirements related to hazardous materials management. A Stakeholder Engagement Plan will also be developed and implemented by the client. The project will be monitored through annual reporting and site visits if appropriate to confirm ESAP implementation progress and compliance with the Bank's Performance Requirements.

Technical Cooperation and Grant Financing


Company Contact Information

Arkas Holding S.A.
+90 (232) 477 77 77
+90 (232) 411 00 00
Liman Caddesi Arkas Binasi #305; No:38 Alsancak 35230

PSD last updated

09 Mar 2022

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and Compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP 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 following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email ipam@ebrd.com to get guidance and more information on IPAM and how to submit a request.


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