| Project Detail |
Location:
Turkey
Project number:
53003
Business sector:
Transport
Notice type:
Private
Environmental category:
B
Approval date:
31 May 2022
Status:
Approved
PSD disclosed:
07 Jun 2022
Provision of a senior loan of up to EUR 25 million (or TRY equivalent) to Netlog Lojistik Hizmetleri A.S. ("Netlog" or the "Borrower"). The Banks investment will be used for financing the capital expenditures of the Borrower including (i) the acquisition of electric vehicles ("EVs"), to be used for deliveries across Turkey; (ii) the upgrading and expansion of the existing racking system of the Borrowers e-fulfilment centres to increase its storage capacity; and (iii) the acquisition of e-commerce mechanization equipment and supporting materials for their e-fulfilment centres (the "Project").
Netlog targets to be the first business to consumer ("B2C") operator in Turkey to deliver half of its shipments via zero-emission vehicles, in addition to increasing the storage capacity and improving the operational efficiency by modernisation of the mechanisation equipment in its e-fulfilment centres.
Project Objectives
The Projects overall objective is to achieve the Borrowers expansion in consumer delivery operations and improve its operational efficiency in the e-commerce business line, maintaining good financial and operational performance and GHG savings. |
