IGA Airport

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IGA Airport is the new thirds Istanbul airport. The airport will be located between Yenikoy and Akpinar districts in the European side of Istanbul. The airport will have at least 3 runways and 3 taxi ways. IGA Havalimani Isletmesi SA is an SPV owned by a consortium of Limak Holding, Cengiz Holding, Kolin Group, MNG Holding, and Kaylon Group; each owning equal 20% shares. IGA was awarded tender for the airport in 2013 by the General Directorate of State Airports Authority (DHMI). 17 companies/consortium initially submitted bids, but only 4 presented. The winning consortium bid USD$29.1 billion(€22.2 billion) for the project. IGA signed a 25yr BOT agreement with DHMI in 2014. IGA reached financial closure in October of 2015. The airport is expected to cost 6486.5m USD, of which 1595m USD will be provide by sponsor equity and 4891.5m USD is to be debt financed. The 1595m USD equity will be provided in five 391m USD parts from each of the sponsors (Cengiz, Kolin, MNG, Kaylon). Debt financing is to be provided by Vakifbank (1063.4m USD), Halkbank (1063.4m USD), Ziraat Bankasi (1595m USD), DenizBank (531.7m USD), Finansbank (319m USD), and Garanti Bank (319m USD). IGA Airport is expected to be operational in 2018. https://ijglobal.com/data/transaction/26324/istanbul-third-airport-ppp http://www.igairport.com/en/ http://www.dhmi.gov.tr/aerodromes.aspx#.Vs4asNJViko http://www.ft.com/cms/s/0/72b834f8-7753-11e5-a95a-27d368e1ddf7.html#axzz417gmQsMP http://www.reuters.com/article/us-turkey-airport-idUSBRE9420RL20130503 http://infrapppworld.com/pipeline-html/awarded-emea/istanbul-third-airport-bot-project http://infrapppworld.com/2013/05/megaproject-29-turkish-consortium-wins-bot-contract-for-e7-billion-istanbul-airport.html http://www.wsj.com/articles/SB10001424127887324266904578460752801985648