TCE Ege Konteyner Terminal Isletmeleri A.S.

completed

The project involves the development and operation of a container terminal (the “Terminal) at an existing port facility in Nemrut Bay, Izmir (the “Project”). The Project will be implemented by TCE Ege (the “Company”) based on a long-term lease agreement for the use of the stocking areas of the port facility owned by Ege Gubre as well as a priority right of use of its piers. The Terminal is expected to have 725 meters of berth, two mobile harbor cranes and two ship to shore gantry cranes, a 16.5 hectare container yard, and a total capacity of around 380,000 TEUs. The Company also has the right to increase capacity to 650,000 TEUs over time. Ninety percent of TCE Ege is owned by Grup Maritim terminal de Contenidors de Barcelona (“GMTCB”) and ten percent by Ark Lojistik Ve Tasimacilik Ticaret Ltd. Sti., owned by Kinay family. GMTCB is Spain’s leading port terminal operator specialized in containerized cargo, currently operating seven terminals in Spain, four terminals in the Americas and one in Turkey. Kinay Group is a Turkish group of shipping/logistics companies. The total Project cost is estimated to be $80 million. The proposed IFC investment is an IFC A loan up to $20 million.