Translated version of this PSD: Turkish
The EBRD is providing a loan of up to USD 50 million to MTCTR Memorex Telekomunikasyon Sanayi ve Ticaret Ltd. Sti., a group company of Turk Telekom, the leading communication and convergence technology group in Turkey offering its customers the complete range of fixed voice, mobile, data, and internet services as well as innovative convergence technologies. The financing will be used to support the investment in submarine cable project as part of the Sea-Me-We-5 consortium.
The financing will support the investment in an alternative, high capacity, high quality access to international data traffic via the submarine fiber optic cable connecting Turkey to Western Europe and South East Asia. The project is expected to be operational by Q4 2016.
The project will address the growing demand for data connectivity and increased data traffic in Turkey and in the region. Broadband users in Turkey switch to higher speed internet packages which is also accompanied by higher usage of data.
MTCTR MEMOREX TELEKOMUNIKASYON SANAYI VE TICARET AS
Turk Telekom is the incumbent operator and leading communication and convergence technology group in Turkey. Turk Telekom and its subsidiaries provide integrated telecoms services from fixed and mobile voice to broadband internet. MTCTR Memorex Telekomunikasyon Sanayi ve Ticaret Ltd.
St is a company part of Turk Telekom International group of companies.
EBRD Finance Summary
Up to USD 50 million senior loan.
Total Project Cost
Total project costs amount to at least USD 50million.
Environmental and Social Summary
The project was categorised B in accordance with 2014 EBRD Environmental & Social Policy. This means that environmental and social impacts associated with the project can be readily identified and addressed by adequate mitigation measures. Turk Telekom is an existing client of the Bank and their environmental and social performance in relation to previous projects has so far been satisfactory against EBRD Performance Requirements (PRs).
Environmental and social due diligence (ESDD) for this project has been based on a review of the completed project/site specific questionnaire and follow up communication on the undersea cable landing, as well as a review of the company's 2014 Environmental & Social Annual Report.
The ESDD did not identify any significant environmental and social issues associated with the project and the client's overall environmental and social risk management practices were in line with PRs.
More specifically, the ESDD showed that the landing station for the undersea cables is an existing building with associated infrastructure, and that the project/site is not associated with any significant environmental and social issues. The whole cable system has been owned by the client for more than ten years.
The cable tunnel from the landing station to the seabed is an existing system. The project therefore will involve only pulling cable works into the existing duct, and it will take approximately 3-4 days.
Thirty five persons on a ship and 15 persons on the beach will engage in the work under the supervision of the representatives of a number of bodies, including the client. The permission procedures for the open water sea cable are under way.
The client has established ISO 14001 in its regional directorate and related units and also has achieved to OHSAS 18001 Occupational Health and Safety certification. Training is provided to staff on environmental and health and safety matters via a Training Academy. The client's human
resources practice including an employee grievance mechanism is in line with PR2.
Any comments or concerns can be brought to the company's attention either verbally or in writing, or via the company's website.
The EBRD will monitor the project by reviewing annual environmental and social reports as well as site visits if needed.
Company Contact Information
Yıldız Posta Cad. Vefa Bayırı Sok. No:40 Gayrettepe
For business opportunities or procurement, contact the client company.
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
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