Page 23 - bne_newspaper_June_01_2018

Weekly Lists
June 1, 2018 www.intellinews.com I Page 23
bne:
Infrastructure
Banks agree another €1bn for Turkish consortium building “world’s largest airport”
Turkmenistan to secure all funding for TAPI pipeline from export credit agencies “within 3-4 months”
World Bank extends funds for dam safely in Albania
The consortium building what it says will be the world’s biggest air- port, outside Istanbul, has secured an additional €1bn loan to help it finish the first construction phase, four people with knowledge of the plan told Bloomberg on May 24.
The IGA Havalimani Isletmesi consortium, a five-member group of local contractors, has reportedly agreed to the extra facility with domestic lenders already involved in the €10.2bn project. The banks initially provided a 16-year loan in 2015 of €4.5bn. They will allocate the debt in proportion to their existing exposure, the sources said.
Turkey has experienced a severe devaluation of the Turkish lira (TRY) in the year to date that threatens to undermine the nation’s banking industry through a rise in problematic loans.
Turkmenistan plans to secure all the necessary funding for the on- going construction of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline within the next three to four months, Muham- metmyrat Amanov, chief executive of the TAPI Pipeline company, said during an industry conference in the Turkmen resort of Avaza.
The $8bn-$10bn pipeline is considered a risky venture given that it is to pass through war-torn Afghanistan. That reality may have already led to a battle over the town of Farah and the abduction of five TAPI-affliated workers. The “do-or-die” project is crucial for diversifying Turkmenistan’s gas exports - the Central Asian nation is currently stuck with China as its only big gas customer.
The World Bank has approved an additional €12mn for its dam safety project in Albania, which derives almost all its energy from hydropower.
The funding will help safeguard the hydroelectric dams on the
Drin and Mat river cascades in Albania, improve the operational efficiency of the dams and enhance the stability of the power supply in the regional market, the development bank said.
The Drin Cascade, which comprises three hydropower plants with total installed capacity 1350 MW, is particularly important as it generates around 70% of Albania’s total energy supply.
“Safe and reliable operation of the HPPs on the Drin Cascade is not only a safety concern, but also a potential revenue management source for the government in the future,” the World Bank commented.