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06
December

Time for contract on the Buca line

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The evaluation process for the Buca Metro construction tender, the city's largest investment in history, to be realized by the Izmir Metropolitan Municipality, has been finished.

Following the tender, in which 8 companies competed, the European Bank for Reconstruction and Development approved the evaluation report issued by the Izmir Metropolitan Municipality tender commission.

It was said that Gülermak Ağır Sanayi İnşaat ve Taahhüt A.Ş, which meets the tender terms, will be invited to sign the contract.

The tender for the two-stage construction of the Buca Metro, which will service between the 13.5-kilometer Üçyol Station-Dokuz Eylül University Tınaztepe Campus-Çamlıkule, which is the 5th stage of the Izmir Light Rail System, passed the EBRD's expert review.

13 companies participated in the first stage of the tender, which had two stages, and in the second stage, financial offers were solicited from the remaining 8 companies that met the necessary criteria. In the tender for which Bayburt Grup- Azercon OJSC Joint Venture, China Civil Engineering Construction Corporation and Kolin İnşaat İş Ortaklığı, Dentas-Gürbag Joint Venture, Doğuş İnşaat ve Ticaret A.Ş, EEB-CRFG-CREGC-MAKYOL Consortium, Gülermak İnşaat, JV of Dillingham Construction-Özaltın İnşaat Joint Venture and Yapı Merkezi – Nurol Joint Venture competed for the construction of Buca Metro, Gülermak Ağır Sanayi İnşaat ve Taahhüt AŞ. submitted a bid of 3 billion 921 million 498 thousand TL.

The tender commission examined the proposals submitted by the companies in the second stage, and the final evaluation report was sent to the European Bank for Reconstruction and Development (EBRD) for approval in compliance with international tender legislation. The review of the evaluation report was carried out in collaboration with a foreign independent expert selected by the bank. As a result of the independent expert's review, the EBRD approved the tender commission's report.

The first loan agreement for the Buca Metro, which will be built by the Izmir Metropolitan Municipality with its own funds, was signed in July with the European Bank for Reconstruction and Development (EBRD). The 125 million Euros foreign finance agreement is without treasury guarantee, has a 12-year term, 4 years of which is with no principal payments, and has a 6-month Euribor + 3.20% interest rate. In November, a finance agreement was signed with the French Development Agency for 125 million Euros without a Treasury guarantee, with a maturity of 12 years and 4-year no principal payments period. An authorization agreement for 125 million Euros was signed with the Asian Infrastructure Investment Bank (AIIB), and another for 115 million Euros with the Black Sea Trade and Development Bank (BSTDB).

 
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