| Project Detail |
The Project involves the construction of a new 7.2-kilometer, 7-station metro line extension to meet the increasing demand for high-capacity public transport in the city of Izmir. The Project is the fourth expansion of Izmir’s single-line metro system and will connect the western areas located between Fahrettin Altay and Narlidere Kaymakamlik with the city center. The Project will provide a cleaner and more efficient alternative to road vehicles, in line with the city’s urban rail network expansion plan and Transport Master Plan (TMP) 2030.
The Project includes underground and civil engineering works (stations, tunnels), electro-mechanical works (signaling, telecommunications, energy supply, elevators and escalators, environmental control systems) and auxiliary facilities. The Project excludes the purchase of rolling stock, as the necessary metro cars were already procured in previous phases.
The European Bank for Reconstruction and Development (EBRD) and the Black Sea Trade and Development Bank (BSTDB) have committed and disbursed loans of EUR 80 million (June 2018) and EUR 50 million (Jan. 2020), respectively for the Project. In May 2020, Société Générale also provided an additional loan of EUR 25 million under EBRD’s A/B-loan. AIIB proposes to extend a non-sovereign-backed loan of up to EUR 50 million to support the completion of the Project.
The award of the Project construction contract by the Izmir Metropolitan Municipality as employer was subject to an open international tender process. The process was carried out in accordance with the EBRD Procurement Policies and Rules (https://www.ebrd.com/work-with-us/procurement/policies-and-rules.html) and the contract was awarded on June 4, 2018, to Gülermak Agir Sanayi Insaat ve Taahhüt A.S. (Gülermak). Turning over of premises to the contractor was carried out on June 25, 2018 and the Project’s physical progress is reported 57 percent as of April 2020.
Once built, the Project will be operated by Izmir Metro, a municipal entity, under an indefinite lease agreement with the Izmir Metropolitan Municipality (IMM). |
