The Kusadasi Port

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In May 2004, the Turkish Privatization Administration awarded a 30 year concession to Turkish company Ege Liman Isletmeleri A.S. (Ege Ports) to operate and expand the Kusadasi Port, the west coast of Turkey in the southern Aegean Sea. The port’s expansion included a new passenger terminal, extension of the existing berths, and purchases of equipment necessary for carrying out operations of the Kusadasi port. Ege Liman Isletmeleri A.S. (Ege Ports) was a special purpose Turkish company specifically incorporated to operate a cruise ship terminal in the Kusadasi Port under the 30 year concession. The company was majority owned by Global Investment Holdings and Royal Caribbean Cruises Ltd. The concession contract was awarded through a competitive bidding process. The cost of expansion program was estimated at US$29.3million. In addition, Ege Ports committed to pay US$24.3 million in concession fees. The project received a US$18 million loan from IFC. http://www.globalyatirim.com/ http://www.egeports.com/ sent an email to Gregk@egeports.com for verifying the financial closure date. None