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Izmir Metro Project II

Turkey
Stage 3: Start of Project Feasibility / Business Case
Stage 3: Start of Project Feasibility / Business Case
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GOVERNMENT SPONSOR
Municipality of Izmir
SECTOR
Transport  >  Rail  >  Passenger
TYPE
Brownfield
VALUE
260.4 M USD
PROJECT LOCATION (E.G. MAJOR GEOGRAPHIC REFERENCE)
izmir Izmir (Smyrna) Turkey 
OPPORTUNITY FOR PRIVATE SECTOR INVOLVEMENT
LAST UPDATED
Q1 2018
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Project Description
The European Bank for Reconstruction and Development (the “EBRD” or the “Bank”) has been asked to assist in preparation of a project aimed at construction of a municipally owned metro system in Izmir (the “Project”). The EBRD loan of EUR 70 million would be extended to the Izmir Metropolitan Municipality (the “City” or “IMM”). Izmir Büyüksehir Belediyesi Metro Isletmeciligi Tasimacilik Insaat Sanayi ve Ticaret A.S. (“Izmir Metro” or the “Company”) was established in 2000 as the municipal metro operator. It is owned by the City and incorporated as a joint stock company. Assets of the rail system (e.g. vehicles, station equipment, etc.) are owned by the City, whilst these assets are operated by the Company. The roles and responsibilities of the Company and the City in relation to the metro system are defined by a lease agreement signed in 1999 for an indefinite period. The metro system in the City is primarily an above ground metro system carrying 215,000 passengers per day with 87 carriages, a 19 km network and 17 stations. Nineteen (19) new metro sets (85 rail cars co-financed by EBRD and 10 rail cars financed in 2014 from the City’s own budget) will be added to the metro fleet to support the increasing ridership between transfer stations as well as the new metro stations that will be in service as part of the metro extension projects. The existing metro system consists of one line which starts from Fahrettin Altay station in the southern part of the metropolitan area and runs towards northeast to end at Narlidere. The extension of the current metro system and further integration of the metro system with existing transport modes, notably IZBAN suburban rail system and connecting city bus services, is in line with the Izmir transport masterplan of 2009, enabling the provision of frequent and efficient services to Izmir residents in a way that is fast, reliable, comfortable, and environment-friendly, providing an alternative to the use of cars. IMM is currently in the process of obtaining all the necessary approvals from the central government to include the Project in the National Annual Investment Programme (“NAIP”) for making the Project eligible for foreign financing. IMM is expected to launch the tender process in Q1 2017. The procurement under the Project is planned to be done according to EBRD’s procurement policies and rules. The tender process is expected to be completed in Q3 2017. IMM plans to complete the Project by 2020. The Project aims to extend the current metro line from Fahrettin Altay to Narlidere and includes the construction of a 7 km extension and seven underground stations linking the western districts of the City to the public transportation network. The extension will go through Balcova, Cagdas, DEU University Hospital, Guzel Sanatlar, Itfaiye, Siteler, Kaymakamlik neighbourhoods and reach Narlidere Istihkam Alayi district.
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Project stage info
Stage 1: Initial Government Announcement
Completed
Stage 2: Project Investigation
Completed
Stage 3: Start of Project Feasibility / Business Case
Completed
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