(Tiper Stock Exchange) – SACE renews its commitment to support Italian suppliers active in infrastructure development in Türkiyestruggling with one new railway line 286 km long – the Mersin Adana Osmaniye Gaziantep High Standard Railway Line – which will connect some main cities in the South, from Mersin to Gaziantep.
SACE intervened in reinsurance of the Export Credit Agency UKEF compared to unl financing of 781 million euros disbursed by a pool of lenders, including Eng (who also acted as Development Finance Structuring Agent on the financing side), BNP Paribas And JPMorgan Chasein favor of the Turkish Ministry of Economy and Finance.
The railway project is part of the larger one high-speed investment programme launched by the Turkish government with the aim of reducing city traffic and limiting the environmental impact, for a transport capacity of 202 million passengers and 1.7 billion goods over the next 30 years. The new railway line will be built from Turkish RECa Ronesans Group company, and by the General Directorate of Infrastructural Investments of the Turkish Ministry of Transport and will see the involvement of several European companies, including also Italian suppliers of hydraulic pumps, compressors, machinery for the execution of civil works and railway components. And this is why SACE intervened in reinsurance on 174 million of Euro.
As part of the Business Promotion activities, SACE organized a digital business matching meeting with the Ronesans Group in partnership with ANIE ASSIFER, which attracted the interest of 22 businesses, especially SMEs, who had the opportunity to explore the new business opportunities related to the project. SACE boasts a solid collaboration and continuous dialogue with the Ronesans Group, with which, in 2021, 4 meetings were organized in which around 200 companies participated.
“This is a large multi-ECA project in which the teamwork of the SACE Group has made the difference, from the Istanbul Office team, to the Business Corporate and Business Promotion structures”, he declared Yeliz TufekciogluRegional Director Europe and Middle East of the International Network of SACE.
“Ronesans Holding’s mission is to implement a strategy based on continuous acquisitions, with a focus on improving our company to be more competitive in the market and strengthen our technical capabilities as well as expand our presence in new markets in close cooperation with our valued international partners,” said Erman IlicakChairman of Ronesans Holding, who adds “we are excited to work with UKEF, SACE, OeKB, JP Morgan, ING and BNP Paribas and this will enable a fundamental change in the construction of railway links and high-speed rail project in Turkey”.