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Signature(s)

Amount
€ 600,000,000
Countries
Sector(s)
Türkiye : € 600,000,000
Transport : € 600,000,000
Signature date(s)
10/06/2013 : € 200,000,000
13/12/2011 : € 400,000,000
Link to source

Summary sheet

Release date
6 September 2011
Status
Reference
Signed | 13/12/2011
20110171
Project name
Promoter - financial intermediary
Istanbul-Ankara Railway Tranche B - Investment Loan

The General Directorate of State Railways Administration (TCDD)

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Up to EUR 600 million
The project cost is estimated in the order of EUR 3.5 billion
Location
Sector(s)
Description
Objectives

Construction of a 490km new high-speed railway line along the Istanbul-Ankara corridor

The provision of high-speed rail services between the two most populous cities of the country thus cutting travel time between the cities significantly, hence providing a modern connection attractive to customers.

Environmental aspects
Procurement

The original project was appraised in 2004/5 for compliance to the then prevailing EIB environmental policy and found to be acceptable subject to conditions. The project has, in part, been implemented as originally intended and in accordance with relevant original environmental decisions. However, for technical reasons, certain sections have had to be realigned. Depending on the scope of such realignments, some or all may fall under Annex 1 or Annex II of the Directive and may require a new EIA procedure. This is to be further appraised.

The promoter of the project, the Turkish State Railways / TCDD, has undertaken to comply with the Banks procurement guidelines, including international tendering. Major parts of the project have already been tendered drawing significant competition from major international railway contractors. The section Gebze-Kosekoy, which is being financed with Instrument for Pre-Accession Assistance (IPA) funds from the EU, is being procured by the Turkish Central Finance and Contracts Unit in accordance with EU procurement procedures. This is unlike all other sections, which are being procured by TCDD under EIB procurement guidelines.

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

News & Stories

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The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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