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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

    General enquiries and comments

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    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
    Alternatively, the EIB can be contacted through its external offices.
    Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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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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