Four international banks to fund Turkey’s railways projects

Four international banks to fund Turkey’s railways projects : Turkish State Railways (TCDD) plans to receive 900 million Turkish lira (TL) loan from four international banks for the railways investments it projected for 2013.

TCDD said it estimated to spend 20.3 billion TL between 2013 and 2015 for rail vehicles’ repair and manufacturing and rail and sea transportation and 19.5 TL of it will be spent only for railway transportation. For that purpose, TCDD will get 900 million TL loan from four international banks for the railway investments in 2013.

The total 900 million TL of loan will include 178.3 million TL from Islamic Development Bank, 479.6 TL from European Investment Bank, 38.8 TL from the World Bank and 203.2 TL from the China’s Export-Import Bank.

TCDD plans to implement eight new projects in 2013 and these projects will cost 4.7 billion TL as one project on rail vehicles’ manufacturing, five on railways transportation, two for sea transportation. TCDD will also continue to work on 22 projects in 2013 as two for manufacturing, 19 for railway transportation, one for sea transportation.

TCDD_train

Source : WorldBulletin

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