EBRD loan to boost competitiveness at Borusan Lojistik and Borusan Port By Dilara Sarı 28 Dec 2023

 

EBRD loan to boost competitiveness at Borusan Lojistik and Borusan Port

By Dilara Sarı

28 Dec 2023

• EBRD provides US$ 33.2 million loan to Türkiye’s Borusan Lojistik  
• Proceeds to finance the company’s capital expenditure, including investments in Borusan Port and logistics
• Improvements and expansion to boost competitiveness

The European Bank for Reconstruction and Development (EBRD) is providing a loan of US$ 33.2 million (€30.5 million) to Borusan Lojistik Dagitim Depolama Tasimacilik ve Ticaret A.S. (Borusan Lojistik) in Türkiye to finance the company’s capital expenditure, including measures to boost competitiveness.

Borusan Lojistik is a provider of integrated logistics services, offering comprehensive supply-chain solutions and third-party logistics services in Türkiye and worldwide, as well as port-management services at Borusan Port in the Gemlik district of Türkiye’s Southern Marmara region.

Borusan Lojistik is a subsidiary of Borusan Holding A.S. (Borusan Holding), one of the largest conglomerates in Türkiye operating in the manufacturing, machinery and power systems, automotive, logistics and energy sectors.

The loan proceeds will be used to finance several investments by Borusan Lojistik to upgrade and expand Borusan Port’s facilities, accelerate digitalisation at the company and renew the logistics fleet.  

The project responds to increased demand in the catchment area of Borusan Port by supporting quality improvements and capacity expansion to improve general-cargo and project-cargo services. The investments in digitalisation are expected to directly boost Borusan Lojistik’s digital capabilities, service offering and pricing methods and contribute to the revenues and profitability growth of its third-party logistics business. Furthermore, as part of the project, Borusan Port has committed to expanding the employment of women across its operations.

Türkiye is one of the EBRD’s largest markets and the Bank has invested more than €19 billion in various sectors of the Turkish economy, mainly in the private sector, contributing significantly to sustainable economic growth in the country.