YMI WC

completed

IFC is considering a US$100 million equivalent medium term Revolving Credit Facility (“RCF” loan) to support the working capital needs of Yapi Merkezi Construction and Industry Inc (“YMI” or the company)  through its holding company- Yapi Merkezi Holding Company.  YMI was founded in 1965 as the first company of the Yapi Merkezi Group in Turkey. YMI started large scale construction works in the 80's and, since, it has developed a strong track-record of railway projects (including train, metro and tramway projects), becoming a leading construction company in the sector.  YMI’s main business activity is to act as Engineering, Procurement, and Construction (EPC) contractor; YMI also holds  two concessions (Eurasia Tunnel and Dardanelles Bridge) for metro and suspension bridge development projects in Turkey. In recent years, YMI has expanded its areas of operation from Turkey to Middle East and Africa. Current projects in the company’s portfolio cover construction of railways, metro systems, tramways, including electrification, warehouse / workshops, and signalization of the systems. At time of appraisal, YMI had a total of seventeen (17) projects among which thirteen projects at different construction stages and four (4) newly awarded projects with construction yet to be commenced. YMI has six ongoing railway projects in Africa (Ethiopia, Senegal, Tanzania, and Algeria and Morocco) with expected construction completion dates around 2020. YMI’s biggest railway project is the construction of the 391km of Awash- Kombolcha- Hara Gebaya (“AKH”) railway line in Ethiopia .  The Tramway project in Sidi Bel-Abbes Algeria is the company’s biggest tramway project which is expected to be completed in November 2017, and the biggest metro line project is the Qatar metro line in Qatar of which construction is expected to be completed in  2019.