Three Development Banks Weigh US$110 Million Financing for Autoport Expansion in Turkey

Three development banks are considering providing financing of up to US$110 million for the expansion of Autoport, a vehicle and general cargo terminal located in the Gulf of Izmit, Turkey, as part of a project with a total investment of US$157 million.

The Asian Infrastructure Investment Bank (AIIB) is considering a loan of up to US$50 million, while the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) are each evaluating loans of up to US$30 million; the IFC could also add up to US$2 million for interest rate swaps. None of the financing has been definitively approved: the EBRD disclosed its Project 55567 on October 28, with concept review and approval scheduled for December 2; the AIIB disclosed Project 001089 that same day, with concept review scheduled for November 3; and the IFC disclosed Project 49619 on September 1, also pending approval.

The project contemplates extending Autoport's berth from 656 to 850 meters, which will allow three vessels to be served simultaneously instead of two, in addition to expanding the terminal yard to 394,058 square meters. Parking capacity, including satellite areas, will increase from 13,000 to 21,000 vehicles, while annual vehicle handling capacity will grow from 650,000 to nearly 1.1 million car equivalent units (CEU), and general cargo capacity will rise from 2 to 2.5 million tons. The works include dredging, landfill of 132,441 square meters, reinforcement of the existing berth to meet updated seismic requirements, extension of a jetty, a Ro-Ro ramp, new buildings and warehouses. Construction began in July 2026.

Autoport Liman Isletmeleri AS has operated since 2008 in Yenikoy, Kocaeli province, with a current terminal area of around 243,000 square meters according to one source, or 243,351 square meters according to another, and two berths of 328 meters. Current yard occupancy stands at around 72% and berth occupancy at 75%, which limits the terminal's Ro-Ro capacity. Turkey's Ministry of Environment, Urbanization and Climate Change granted environmental impact approval in July 2025 under file EIA 44557. Turkish logistics and shipping group Arkas Holding holds 80% of Autoport, while Ayhan Zeytinoglu and Adnan Zeytinoglu each hold 10%.

The project is classified as Category B and, to maintain a consistent approach among lenders, the EBRD's environmental and social performance policies are being applied instead of the AIIB's own policies. An independent assessment concluded that the potential marine impacts of dredging, such as habitat degradation and increased turbidity, would generally be short-term and reversible, and therefore a Biodiversity Management Plan is required during construction that takes into account the Specially Protected Area of the Sea of Marmara. No land acquisition or population displacement is expected, and consultations were held with local representatives from Sepetlipınar, fishermen and maritime NGOs regarding access restrictions and effects on fishing.