The European Bank for Reconstruction and Development (EBRD) and Industrial and Commercial Bank of China (ICBC) will grant loans of $30 million each for the inland port in Turkey. The total cost of the project is estimated to $86 million.

According to EBRD, the project’s terminal area will cover 26.5 hectares. It will be constructed in Turkey’s massive industrial centre in the Kocaeli Province, and will cater to industries operating in the north-western part of the country, including Ankara.

The logistics hub project in Turkey will combine Arkas’ marine terminal expertise and the know-how of Duisport, Ozgur Kalelioglu, Port and Terminal Services Group President at Arkas, said. “We are excited to lead the way and develop terminal capacity for effective, environmentally friendly combined modes of transport.” He also added that the chief objective of the project is to ensure a ‘gateway terminal servicing rail freight for the Turkish industry and support the development of intermodal transportation to and from Turkey’.

Largely, the logistics hub will facilitate freight rail transportation within Turkey and between Europe and Asia.

The post Turkey builds first private inland cargo terminal for $86 million appeared first on International Finance.