80 Million Euro Signed for Üçyol Buca Metro

million euros for ucyol buca subway
million euros for ucyol buca subway

80 Million Euro Signed for Üçyol Buca Metro: 80 Million Euro Signed for Üçyol Buca Metro; First signatures were signed for the largest investment project in İzmir's history. A contract has been signed between İzmir Metropolitan Municipality and European Bank for Reconstruction and Development for the initial financing of Üçyol Buca Metro Project.

The first major step was taken to finance the largest investment in the history of İzmir. İzmir Metropolitan Municipality and European Bank for Reconstruction and Development (EBRD) signed a financial authorization agreement for the 13,3 million euros today for the 80 kilometer metro project that will connect Üçyol and Buca. With this authorization agreement, tender works can be started immediately subject to EBRD's international procurement policies and rules. Within the scope of the project, the tender is planned to be started at 2020.

İzmir Mayor Tunç Soyer made a speech at the signing ceremony at Çetin Emeç Meeting Hall of İzmir Metropolitan Municipality. We aim for our citizens to access to fast, modern, safe and environmental transportation more easily. Our Üçyol Buca metro project will radically solve the traffic problem in a region with a high population density and will give everyone a breath. ”

“We were able to obtain uninsured and unsecured loans from the Treasury”

Noting that international cooperation can be ensured with mutual trust, Tunç Soyer said, “Financing institutions rigorously inspect the institutions to which they will give credit and undergo important financial analyzes. As a result of these tests, financing is provided only if the international finance institutions and development banks look to the future of our municipality with confidence. In this financial environment, the Izmir Metropolitan Municipality has managed to obtain unsecured and unsecured loans from the Treasury. We have once again demonstrated that the credibility of our municipality is high by receiving financial support for such important and big projects ”.

The goal is to build a sustainable future

EBRD Turkey Vice President Sule sword the EBRD, Izmir saying that the Council's long-term and strong partners, "Izmir Municipality of Izmir better and effort to create a sustainable future for the people we are always appreciated. Today, while signing the loan authorization letter of Üçyol - Buca Metro Project, we also hold the Green Cities Action Plan opening and information meeting. With the Green Cities Program, the EBRD aims to build a more sustainable future for cities and its inhabitants. An action plan that will make İzmir a greener city will be prepared within the framework of the program. The Green City Action Plan will reveal the strategic goals of İzmir in combating climate change and will determine the actions and investments planned for a series of short, medium and long terms. ”

12 annual maturity

Information was given about the details of the loan at the meeting. The 80 million euro loan received by the Izmir Metropolitan Municipality has a maturity structure extending to the total 4 year without repayment of the 12 year principal. Negotiations with international development banks and financing institutions are continuing for the remaining financing of the project.

The Project is on the 2019 Year Investment Program Revision Chart

The Üçyol and Buca Metro Project was included in the 2019 Presidential Program Revision Schedule of the Turkish Presidency Strategy and Budget Directorate. For the financing needs of the project, the Ministry of Treasury and Finance had complied with the provision of 6 billion 165 million 852 thousand TL external financing without a Treasury guarantee.

Route to Buca Metro
Ucyol Buca Subway Route

Izmir Railway System Map

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