Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Turkey
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • European Bank for Reconstruction and Development (EBRD)
Status: Pending
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2017-03-08
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: TERSAN TERSANECILIK TASIMACILIK SANAYI VE TICARET A.S
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Transport
Investment Amount (USD): $ 21.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 30.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

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Primary Source

Original disclosure @ EBRD website
Updated in EWS: 2017-05-01
Disclosure Date: 2016-10-06
Tersan Floating Dock
EBRD-48610

Project Description
TRANSLATED VERSION OF THIS PSD:TURKISH Turkish PROJECT DESCRIPTION The EBRD is considering providing a senior loan of up to USD 21 million to Tersan Tersanecilik Tasimacilik Sanayi ve Ticaret A.S. to finance the construction of a new floating dock for servicing, repairing and maintaining commercial maritime vessels near Istanbul, Turkey. Total project costs are estimated at USD 30 million. PROJECT OBJECTIVES The primary purpose of the project is the strengthening of Tersan's competitive position in the maritime vessel maintenance industry in Turkey along with sectoral expansion. Tersan will replace an existing leased dock with the planned investment. Construction of the floating dock will enable Tersan to increase its capacity and achieve international best practice for operation of such facilities. TRANSITION IMPACT The Project will build on the transition impact through: CLIENT INFORMATION TERSAN TERSANECILIK TASIMACILIK SANAYI VE TICARET A.S EBRD FINANCE SUMMARY USD 21,000,000.00 TOTAL PROJECT COST USD 30,000,000.00 ENVIRONMENTAL AND SOCIAL SUMMARY The project has been categorised B under the Bank's Environmental and Social Policy (ESP) (2014) as the environmental and social (E&S) impacts associated with the construction of the floating dock can be readily assessed and mitigated. TECHNICAL COOPERATION None. COMPANY CONTACT Information Ahmet Teyfik Paksu apaksu@tersan.com.tr 00902264656200 00902264656200 http://www.tersanshipyard.com/home Acicesme Mevkii, Bogazici Cad. No:28, Tavsanli # Altinova, 77740, Yalova / Turkey Business opportunities
Investment Description
TERSAN TERSANECILIK TASIMACILIK SANAYI VE TICARET's primary activity is the provision of repair and periodic maintenance services to owners or operators of a variety of maritime vessels and structures at its repair docks.
Contact Information
Information Ahmet Teyfik Paksu apaksu@tersan.com.tr 00902264656200 00902264656200 http://www.tersanshipyard.com/home Acicesme Mevkii, Bogazici Cad. No:28, Tavsanli # Altinova, 77740, Yalova ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.