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Istanbul Sabiha Gokcen Airport

Türkiye | Industrials

Identification Code:: OP/08/0725
Total Operation Cost:: 341.000.000 EUR
Maturity:: 144 months
Operation Status:: BSTDB Approved Amount – Approval Date

29.000.000 EUR – 25 Sep 2009
: BSTDB Signed Amount – Signed Date

29.000.000 EUR – 08 Jan 2010
: Status:
Completed
Description and Purpose of the Operation:: Provision of a project finance facility to a special purpose vehicle, Istanbul Sabiha Gokcen Uluslararasi Havalimanlari Yatirim Yapim ve Isletme A.S. to: -operate and maintain the existing domestic and international terminal in accordance with the international norms and standards; -construct a new international terminal building and its complementaries (i.e. hotel, additional apron and car parking) via BOT model during the 30 months investment period ; -establish the new electrical, mechanical installations of the new international terminal; -re-construct the current fuel hydrant system; -construct the new security entrance area within 4 months after the delivery of the site; -perform the maintenance and repair of the apron, runway and taxiway; -convert the previous international terminal to a domestic terminal; -arrange the previous domestic terminal as an independent general aviation terminal.
Countries of Operation:: Türkiye (100,00%)
Financial Product:: Loans
Sector:: Industrials
Domain:: Private
Borrower/Client:: Istanbul Sabiha Gokcen Uluslararasi Havalimanlari Yatirim Yapim ve Isletme A.S.
Co-Financers/Participants:: Royal Bank of Scotland and Yapi ve Kredi Bankasi A.S.
Guarantors/Sponsors:: GMR Infrastructure Limited and GMR Infrastructure Overseas S.L. Sociedad Unipersonal ("GMR"), Limak Insaat Sanayi ve Ticaret A.S. and Limak, Yatirim, Isletme Hizmetleri ve Insaat A.S. ("Limak"), Malaysian Airports Holding berhad ("MAHB")
Developmental and Regional Cooperation Impact:: The Operation will bring about high developmental impact: modernization of the air transport infrastructure is important for Turkey's and especially Istanbul’s ability to attract foreign investment and enhance business and tourism activity in the country.
Environmental Classification and Impact:: The Project is in compliance with the Bank's Environmental Policy.
Operation Leader:: General Industries, Transport, Tourism 2
E-mail:: gitt2@bstdb.org