Turkey's Sovereign Wealth Fund announces a $1.5 billion investment to modernize Izmir Alsancak Port, enhancing capacity and infrastructure.
A modernization program worth a total of $1.5 billion has been announced for the İzmir Alsancak Port, which is under the Türkiye Varlık Fonu (TVF). The investment will involve deepening the port's approach channel, renewing old docks, and increasing cargo handling capacity. With the completion of the project, it is aimed for the port's annual container capacity to reach 3 million TEUs and other cargo capacity to reach 10 million tons.
One of the most critical phases of the modernization involves dredging works that will enable large container ships, measuring 400 meters in length, to dock directly in İzmir. The works are planned to commence in the first quarter of 2027.
The approach channel will be deepened to 17 meters.
Erhan Yelkenci, a member of the Executive Board of TVF İzmir Port, stated that the docks built in the 1950s and 1980s will be comprehensively renewed.
Yelkenci noted that the first phase of the investments will take four years, while the second phase, which will be carried out depending on developments in cargo volume, is planned to be completed within a 10-year period.
The dredging works are expected to last approximately two years. Alport Business Development Director Onurhan Kadıoğlu reported that the aim is to deepen the port's approach channel to 17 meters.
These works aim to facilitate access for large-tonnage vessels to the port and reduce the need for transshipment in exports from the Aegean Region.
The cruise dock will be closed in 2027.
The modernization program encompasses not only cargo transportation but also the cruise port.
Erhan Yelkenci announced that the cruise dock, which has structural issues, will be temporarily taken out of service at the beginning of 2027 for safety reasons.
After approximately two years of planned renovation works, it is aimed for the dock to host cruise ships again in 2029.
It is planned for the port's cargo operations to continue uninterrupted during the modernization process.
Container capacity will be tripled.
The current annual container handling capacity of İzmir Alsancak Port is around 1 million TEUs.
Alport Business Development Director Onurhan Kadıoğlu stated that with the completion of the dredging works, the capacity is aimed to be increased to 1.6 million TEUs in the first phase.
After the completion of the two-phase investment program, it is projected to reach an annual capacity of 3 million TEUs for containers and 10 million tons for other cargo.
With the new infrastructure, it is aimed to reduce the waiting and docking times for ships and achieve a handling performance of over 30 moves per hour per crane.
Speed in ship operations has increased more than fourfold.
Alport Ports Coordinator Mustafa Levent Adalı announced that after transitioning to the new operating model, the terminal operation system has been activated, and automation applications have been expanded.
According to Adalı, the number of container movements per ship, which was 13 before the transition, has risen to 63 as of August.
Adalı stated that this increase was achieved through the new terminal operating system, automation, and operational arrangements, expressing that the goal is to further enhance efficiency with the completion of the investments.
The ownership of the port will remain with the Türkiye Varlık Fonu.
As of August 1, 2026, İzmir Port was transferred from the Turkish State Railways (TCDD) to the Türkiye Varlık Fonu.
In the new management model, the ownership, investment responsibility, and strategic control of the port are under TVF İzmir Port Management and Investment Inc.
The daily commercial operations of the cargo terminal are conducted by Alport. Discussions regarding the operation of the passenger port are ongoing.
TVF İzmir Port Deputy General Manager Arcan Fayatorbay stated that Alport provided the best offer as a result of negotiations with eight companies, clarifying that the concession rights of the port have not been transferred and that investments will be carried out directly by TVF.
The share of railways in transportation will be increased to 30%.
Another aspect of the modernization program involves strengthening the port's railway connections.
Regular railway transportation from production centers in Manisa, Aydın, Denizli, and Central Anatolia to İzmir Port is planned.
While the aim is to raise the share of railways in port exits to 30%, it is also intended to reduce the need for transshipment of cargo at other ports with the direct arrival of larger container ships in İzmir.
Officials expect that with the completion of the modernization, ship waiting times will shorten, transportation costs will decrease, and access for exporters in the Aegean Region to international markets will become easier.
The $1.5 billion investment program for İzmir Alsancak Port aims to renew both its container transportation capacity and its logistics infrastructure connected to cruise and railways.
Source: SeaNews Türkiye
