Azernews.Az

The European Bank for Reconstruction and Development (EBRD) will allocate 145 million euros for construction of a brand-new airport terminal for domestic flights in Izmir, Turkey, EBRD reported on Friday.

According to the report, the EBRD's financing package will consist of an A-loan (up to 70 million euros for the Bank's own account) and a B-loan (up to 75 million euros syndicated to commercial banks, UniCredit and Siemens Bank).

The rest of an overall 250 million euros debt facility to finance the project is being provided by Turkish Denizbank (65 million euros) and the Black Sea Trade and Development Bank (40 million euros).

The new domestic terminal will be built alongside the existing international terminal by TAV Ege, a fully owned subsidiary of TAV Airports that won the lease to operate the entire airport until the end of 2032.

TAV Airports is one of the world's largest airport concession companies with operations at 12 airports in 6 countries, including the Istanbul's Ataturk airport. The company, together with its subsidiaries, provided services to approximately 451 000 flights and 53 million passengers in 2011.

The terminal is designed to have a total area of 185.000m² with eight passenger boarding bridges and planned to be connected with the International Terminal by a bridge system.

Since the beginning of its operations in Turkey, the EBRD has invested approximately 2.5 billion euros in about 50 projects.