The funds are being provided jointly by the European Bank of Reconstruction & Development (US$17.5M) and ICBC Turkey Bank AS (US$17.5M), which is controlled by the Industrial and Commercial Bank of China.

Ceyport has a 36-year operating and investment concession at the port and its current plan, which involves expenditures in excess of US$125M, will expand and modernise the port’s ro-ro general cargo, ro-ro ferry and container-handling facilities. The work is scheduled to be completed during 2022 and its handling capacity is expected to increase from a current level of about 1.7Mt per annum to 2.2Mt.

A primary objective of the plan is to boost efficiency levels at these terminals and encourage shippers/consignees in the region to make greater use of more environmentally-friendly shipping services for their transport needs.

Currently, most cargo is moved by truck. But with the highways becoming increasingly congested and delivery times more unreliable. Shipping is seen as a more competitive option. It will also cut pollution levels in the area.

Ceyport Tekirdag is a subsidiary of the Cey Group which also operates the Black Sea port of Samsun and the port of Mesbas, which is located in the Mersin Free Zone. The group also operates a full range of logistics services.