Autoport Port in Izmit Bay is set to receive $60 million in loans for expansion, enhancing cargo capacity and supporting regional growth.
The expansion investment of Autoport Port in the Izmit Gulf is currently on the agenda of international financial institutions. A project record from the European Bank for Reconstruction and Development (EBRD), dated October 28, indicates the provision of a loan of up to $30 million to Autoport Port Operations Inc.
Additionally, the investment information form from the International Finance Corporation (IFC) also includes a loan of up to $30 million. The total amount evaluated by the two institutions reaches $60 million. Records checked on November 2 show that the EBRD project is under review, while the IFC investment is awaiting approval.
The project, with an estimated cost of approximately $157 million, aims to increase Ro-Ro and general cargo capacity through the extension of docks and the expansion of the terminal area. The financing is planned to be completed with the company's equity and contributions from other financial institutions.
The EBRD states that the investment aims to prevent capacity bottlenecks in the import and export of vehicles and general cargo in the Eastern Marmara region. The IFC expects that the expansion will support growth in automotive production and exports. Documents released by both institutions indicate that the proposed financing has not yet been finalized.
Source: SeaNews Türkiye
