In doing so, it will foster greater competition in the domestic Turkish port sector. In addition, the ability to handle larger container ships at the port will reduce handling costs and increase the competitiveness of regional trans-shipment terminal services for container cargo destined for Black Sea ports.
The project is estimated to costs USD 413 million and Aysaport, a company partly owned by members of the Turkish Soyuer family and for 70% owned by Global Terminal Ltd, which itself is owned by Terminal Investment Ltd SA, the terminal operating subsidiary of Mediterranean Shipping Company, the world’s second largest shipping company, has asked the EBRD for a loan of up to USD 75 million.
The project will promote growth in containerisation and development of logistics services in Turkey and the Black Sea region. It will also further drive development of trans-shipment activities in the region by becoming the last port of call before the Bosphorus for today’s mega-vessels.
The port’s management will be required to obtain ISO certification, relating among others to environmental and energy management. The port will also introduce new energy efficient technologies in line with best international practice. These will include the use of electric rubber-tyred gantry (“E-RTG”) cranes, while traditional terminals still run diesel driven RTGs.