125 Million Euros Financing Received From Asia For Üçyol Buca Metro

million euro financing came from asia for ucyol buca metro
million euro financing came from asia for ucyol buca metro

Financing came from Asia, after Europe, for the Buca Metro to be built by the Izmir Metropolitan Municipality with its own resources. Signing a 2019 million Euro authorization agreement with the European Bank for Reconstruction and Development in December 125, the Metropolitan signed a 125 million Euro authorization agreement with the Asian Infrastructure Investment Bank.

İzmir Metropolitan Municipality signed an authorization agreement of 1 million Euros with the Asian Infrastructure Investment Bank (AIIB) for the Üçyol-Buca Metro, which will be the largest investment in the history of the city with a budget of 70 billion 125 million Euros. Providing financing to a municipality for the first time in the world, AIIB first opened its municipal financing door in August 2020 for the Fahrettin Altay-Narlıdere Metro Project with an external financing agreement of 50 million Euros. AIIB also signed an authorization agreement of 125 million Euros for the Üçyol-Buca Metro Line.

The signing ceremony was held by İzmir Metropolitan Municipality Mayor Tunç Soyer, İzmir Metropolitan Municipality Secretary General Dr. Buğra Gökçe, İzmir Metropolitan Municipality Deputy Secretary General Barış Karcı, İzmir Metropolitan Municipality Procurement Department Head Övünç Özgen, Advisor to the President Onur Eryüce and AIIB Vice President Konstantin Limitovsky, General Manager Supee Teravaninthorn, AIIB Technical Department Manager Gregory Liu, AIIB Senior Investment Operations Specialists Edwin Yuen and Francisco -Jose Fortuny participated in the video-conference. The authorization agreement, worth 125 million Euros without a treasury guarantee, was concurrently signed by Izmir Metropolitan Municipality Mayor Tunç Soyer, AIIB Vice President Konstantin Limitovsky and General Manager Supee Teravaninthorn.

Soyer: İzmir gives confidence

Emphasizing that they continue their investments without slowing down despite the pandemic and the economic crisis, Mayor Soyer said, “In this period when it is very difficult to find financing, İzmir Metropolitan Municipality can obtain loans from reputable financial institutions of the world under extremely favorable conditions. This is a concrete indicator of the strong financial discipline of our municipality and the trust in Izmir ”.

A radical solution to the traffic problem

Üçyol-Buca Metro Line; Stating that it is a very important investment in the way of an environmentally friendly, modern, safe, comfortable and non-delaying integrated public transportation system, Soyer continued as follows: “In the period of 2020-2021, when it is difficult to find financing due to the economic recession and epidemic worldwide, İzmir Metropolitan Municipality is committed to its large-scale investments. continues its efforts to obtain long-term financing from different international credit institutions by following innovative approaches and increasing the financing diversity of the city. This project, which is of historical importance for the people of Izmir, will radically solve the traffic problem by providing modern, fast, environmentally sensitive, safe and comfortable transportation for our citizens. Strengthening our relations with AIIB, which finances a municipality for the first time in 2020, is of great importance for Izmir and Turkey. Thanks to this cooperation, the Izmir Metropolitan Municipality assumes a pioneering role and acts as a bridge between AIIB and other municipalities in Turkey. "

New agreements are on the way

President Soyer also announced that they expect authorization agreements with the French Development Agency (AFD) and the Black Sea Trade and Development Bank (BSTDB) with similar maturity and interest structures to other institutions for the Buca Metro in a short time.

We look forward to working on new projects

Speaking at the signing ceremony, AIIB Vice President Konstantin Limitovsky said, “Last year, we provided 50 million Euros of external financing to Izmir Metropolitan Municipality for Narlıdere Metro. This was the first funding AIIB provided to a municipality in its history. Now, we are pleased to provide 125 million Euros of external financing for the Buca Metro project for the second time and to work with your team. Izmir is a very beautiful city. It is very valuable to contribute to the environmental and sustainable project of the Metropolitan Municipality. It is an extraordinary situation that this project will directly affect 500 thousand people in the city. With this project, the quality of life of the people of İzmir will increase. As AIIB, we gain new experiences with our cooperation with you and we will have the opportunity to transfer these to other countries. We look forward to working with your team on the new projects of this beautiful city, ”he said.

The tender process begins

The first stage qualification files of the companies willing in the construction tender of the Üçyol-Buca Metro Line, which will be the 5th stage of the Izmir Light Rail System, will be opened on Friday, May 28. The files to be opened electronically on the official website of the European Bank for Reconstruction and Development (EBRD), which provides financial support to the project, will be examined by the tender commission. After the completion of the evaluations, the bidders who are deemed sufficient will be invited to the second stage where their price offers will be submitted.

Here is the line route

Üçyol-Buca Metro Line will be 13.5 kilometers long. Line; Üçyol Metro Station will serve between Dokuz Eylül University Tınaztepe Campus and Çamlıkule. The line, which will be built with deep tunnel technique (TBM / NATM) using TBM machine, will have Zafertepe, Bozyaka, General Asım Gündüz, Şirinyer, Buca Municipality, Butchers, Hasanağa Garden, Dokuz Eylül University, Buca Koop and Çamlıkule stations respectively.

It will be integrated with İZBAN

Buca Metro is at Üçyol Station with the metro line running between F.Altay and Bornova; It will be integrated with İZBAN line at Şirinyer Station. While being connected from the ticket hall floor at Üçyol Station; It will be connected from the platform floor at İZBAN Şirinyer Station and will operate independently from existing lines. Train sets on this line will serve without driver.

Construction will start this year

Maintenance, Workshop and Warehouse Building, which will have a total closed area of ​​80 m2, will also be built within the scope of the project. In the two-storey building, the ground floor will be used as an overnight stay and the upper floor will be used as a vehicle maintenance and repair floor. There will also be administrative offices and staff usage areas on the upper floor. The construction of the Üçyol - Buca Metro Line is planned to start in the second half of this year. The work is expected to take four years.

About AIIB

AIIB, which started its operations in Beijing in January 2016 and has since reached 103 approved members worldwide, is a versatile development bank with a capitalization of US $ 100 billion, with sustainable infrastructure investments.

Armin

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