InfraMed owns a 20% stake in LimakPort Iskenderun, www.limakports.com.tr, a 36-year concession to operate the Iskenderun port located in Turkey’s Eastern Mediterranean shore. The port was an operational general cargo port at the time of its privatisation in 2011. The new capital investment plan added a modern container terminal with an annual capacity of 1 million twenty-foot equivalent units. The project total costs amounted to $754m. InfraMed’s partner in the transaction is Turkey’s leading infrastructure investor Limak Yatirim.
The Turkish maritime trade grew by 19% per annum over the past decade, fuelled by country’s robust foreign trade and GDP growth. Given its favourable geographic location, Iskenderun is well positioned as one of the largest cargo and container port in the region, capitalising on strong industrial activity in the Cukurova, Southeast and East Anatolian regions. The port’s active hinterland is Turkey’s fourth largest economic area and home to some of the largest steelworks, oil and gas terminals and shipyards in the country.