As per The EBRD (European Bank for Reconstruction and Development) news they are providing €27.5 million loan for fast-growing sea transportation firm Alternative Transport that will help it realize its international potential. The loan will finance the acquisition of a new roll-on/roll-off (ro-ro) cargo ship.
In addition EBRD is providing another €4.5 million junior loans under the EBRD’s Green Logistics Program funded by the Global Environment Facility. Turkey’s largest lender Isbank is extending a parallel loan of €16 million.
The new cargo ship will enable the firm’s much-needed expansion on the route connecting the Istanbul port of Haydarpasa and the north-eastern Italian port city of Trieste, increasing profitability and operating efficiency.
The founder and chairman of Alternative Transport, Ahmet Musul, said: “We are pleased with the support of EBRD, which helps to make possible the execution of our strategy to develop inter-modal solutions linking major European ports. On top of that we keep developing our infrastructure; we invest in new vessels, trucks, warehouses and own ports to the benefit of our customers.”
News & Image Courtesy: EBRD News