Financing deal worth $1.40bln signed for Turkish railway project

The 200 kilometer railway line, a crucial project for economic integration of industrialized cities

  

ISTANBUL- A green financing deal for the Turkish Finance Ministry, worth 1.24 billion euro ($1.40 billion), has been signed to fund development of a new high-speed railway line in northwest Turkey, Standard Chartered Bank said on Thursday.

The 200 kilometer railway line, a crucial project for economic integration of industrialized cities to country's railway network, will link the cities of Bandirma and Osmaneli, it said in a statement.

Standard Chartered, acting as the global export credit agency coordinator, structuring bank, green loan coordinator and mandated lead arranger, brought together Danish Eksport Kredit Fonden (EKF), Swedish Exportkreditnamnden (EKN) and the Swedish Export Credit Corporation (SEK) to deliver the funding.

The transaction entails 100% financing of the transport ministry's project development contract with the Kalyon engineering and construction contractor, the statement said. ($1 = 0.8839 euros)

(Reporting by Karin Strohecker Writing by Ezgi Erkoyun Editing by Daren Butler) ((ezgi.erkoyun@thomsonreuters.com; +90-212-350 7051; Reuters Messaging: ezgi.erkoyun.thomsonreuters.com@reuters.net;))


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