125 Million Euro Credit from Europe for Üçyol Buca Metro

Euro million loan from Europe for the ucyol buca metro
Euro million loan from Europe for the ucyol buca metro

The first loan agreement for the Buca Metro, which will be built by the Izmir Metropolitan Municipality with its own resources, was signed with the European Bank for Reconstruction and Development (EBRD). President Soyer stated that they are proud of having signed a project financing of 1 million Euros by working with determination and determination for more than 70 years for the Üçyol-Buca Metro, which will be the largest investment in İzmir history with a budget of 1,5 billion 125 million Euros.

Izmir Metropolitan Municipality signed an external financing agreement of 1 million Euros with the European Bank for Reconstruction and Development (EBRD) 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. İzmir Metropolitan Municipality, which provides external financing from the European Bank for Reconstruction and Development (EBRD) for sea transportation, wagon purchase and Narlıdere Metro line, has thus added a new one to this cooperation.

The contract for the external financing of 4 million Euros with a maturity of 12 years, 6-month Euribor + 3,20% interest rate, 125 years with no principal repayment, without Treasury guarantee Izmir Metropolitan Municipality Mayor Tunç Soyer and Sue Barrett, EBRD Infrastructure Sector Director.

Izmir Metropolitan Municipality Mayor attended the signing ceremony. Tunç Soyer, Izmir Metropolitan Municipality General Secretary Dr. Buğra Gökçe, İzmir Metropolitan Municipality Deputy Secretary General Barış Karcı, İzmir Metro A.Ş General Manager Sönmez Alev, İzmir Metropolitan Municipality Purchasing Department Head Övünç Özgen, President Advisor Onur Eryüce, Turkey, Middle East and Africa, EBRD Turkey President Arvid Tuerkner, EBRD Infrastructure Sector Director Sue Barrett, EBRD Turkey Deputy Chairman Şule Kılıç, EBRD Infrastructure Sector Senior Manager İdil Gürsel and EBRD Infrastructure Sector Specialist Banker Begüm İrhan attended the video conference.

Soyer: “İzmir gives confidence”

İzmir Metropolitan Municipality Mayor, who said that despite the pandemic and the economic crisis, they continue their investments without slowing down. Tunç Soyer“In this difficult period, our municipality has managed to find long-term and low-interest financing with the trust it has given to foreign investors, as well as the reputation it has earned with its good record. I believe that one of the most important elements of our success is our 'implementation power'. We are working for İzmir with love by applying all our written and verbal promises one by one.”

Solution to traffic problem

Stating that the Üçyol-Buca Metro line, which will be the largest investment in İzmir's history, will radically solve the traffic problem of Buca, the most crowded district of the city, by providing modern, fast, environmentally friendly and safe transportation, Soyer said, “When this investment is completed, it will attract more investors to İzmir and create new employment opportunities. The international tender for the construction of Üçyol-Buca Metro with a budget of 1 billion 70 million Euros, in which 13 companies will participate, will be held on 27 August 2021. We will hit the first digging in the project by the end of the year. Comfortable and environmentally friendly transportation is the right of all Izmir. It is a great honor and a great honor for me to sign the external financing contract of this historic project that will have a positive impact on the lives of millions of our fellow citizens.

Emphasis on collaboration

Emphasizing the importance of the strengthening of relations with the European Bank for Reconstruction and Development, which is one of the world's leading development banks and has provided financing to Izmir Metropolitan Municipality in various projects, to the economy of both Izmir and Turkey, Soyer said, “The more we will do for the people of Izmir, the European Bank for Reconstruction and Development. I wish the continuation of its economic, environmental and technological contributions to many investment projects.”

Congratulations and commitment to cooperation to President Soyer

Speaking at the signing ceremony, EBRD Turkey General Manager Arvid Tuerkner said, “This project is of great importance for us as it has the highest amount of financing we have given to a municipality in our countries of operation, as it is for Izmir. I am pleased to see the continued commitment of the city of Izmir to provide greater sustainability for its 4,4 million people and to improve the urban environment. As EBRD, Mayor of Izmir Metropolitan Municipality Tunç SoyerWe congratulate ' for its green leadership and commit to continue cooperation in order to improve lives.

Financing amount increased from 80 million to 125 million euros

Izmir Metropolitan Municipality Mayor Soyer Üçyol signed an authorization letter of 2019 million Euros with the European Bank for Reconstruction and Development (EBRD) in December 80 to provide external financing for the Buca Metro line. Following President Soyer's talks with the EBRD, this financing amount increased to 125 million Euros. Izmir Metropolitan Municipality signed an authorization agreement with the French Development Agency (AFD) and the Asian Infrastructure Investment Bank (AIIB) for a total of 125 million Euros, 250 million Euros, within the scope of Üçyol -Buca Metro Line last May. It is planned to sign an authorization agreement with the Black Sea Trade and Development Bank (BSTDB) in the coming days.

The final stage tender is on August 27.

The final stage of the tender process initiated by the Izmir Metropolitan Municipality for the Buca Metro, which will create great relief in urban public transportation, will be completed on August 27. In the second stage of the tender for the construction of the 13,5 km line, 13 companies that were invited to submit their financial offers. At the end of the evaluation, the most economically advantageous offer will be determined and the construction work will begin immediately after the contract to be signed with the contractor.

It will provide driverless service.

The line, which forms the 5th stage of the İzmir Light Rail System, will serve between Üçyol Station - Dokuz Eylül University Tınaztepe Campus - Çamlıkule. The length of the line, which will be constructed with the deep tunnel technique (TBM/NATM) using the TBM machine, is 13.5 km. and 11 station areas were determined. Starting with Üçyol, the line will include Zafertepe, Bozyaka, General Asım Gündüz, Şirinyer, Buca Municipality, Kasaplar, Hasanağa Bahçesi, Dokuz Eylül University, Buca Koop and Çamlıkule stations respectively. The Buca line will be integrated with the 2nd stage line running between F.Altay-Bornova at Üçyol Station and with the İZBAN line at Şirinyer Station. Train sets on this line will serve without drivers. The construction of Üçyol-Buca Metro Line is planned to start by the end of this year. The studies are expected to take four years.

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