European Bank of Reconstruction and Development (EBRD) has issued a new loan US$ 17.5 million to the operator of Tekirdag port on the Sea of Marmara. ICBC Turkey is providing an equal loan.

Ceyport Tekirdag Uluslararasi Liman Isletmeciligi is operating the port under a 36-year concession granted by the Turkish privatization authority last year.

The EBRD loan will partially finance the acquisition of operating rights, the modernization of the port and the expansion of its capacity, to which the company has committed under the concession agreement.

The Tekirdag port handles general cargo, dry and liquid bulk, containers and roll-on/roll-off (ro-ro) vessels and serves industrial and agricultural production and trade in the region. It is the only port in the western Marmara Sea that provides both ro-ro and rail-ferry services to the eastern Marmara region. Enhanced port infrastructure will play a key role in directing a larger share of cargo from roads towards railway and shipping lines, which are more environmentally friendly alternatives.

The port operator is a subsidiary of Cey Group, one of the largest logistics groups in Turkey, which also includes Ceynak Lojistik and the operators of Samsun port and Mesbas port located in the Mersin Free Zone.