Release date: 6 September 2011
Promoter – Financial Intermediary
The General Directorate of State Railways Administration (TCDD)
Location
Description
Construction of a 490km new high-speed railway line along the Istanbul-Ankara corridor
Objectives
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.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 600 million
Total cost (Approximate amount)
The project cost is estimated in the order of EUR 3.5 billion
Environmental aspects
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.
Procurement
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.
Status
Signed - 13/12/2011
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).