Watson Farley & Williams (WFW) advised Limak İnşaat Sanayi ve Ticaret AŞ (Limak) and the project company Antalya Alanya Otoyolu İnşaat Yatırım ve İşletme AŞ on the sustainability-linked financing of the €2.5 billion Antalya–Alanya Motorway public-private partnership (PPP) in Türkiye.
Stretching 122km along Türkiye’s Mediterranean coast, the motorway is being developed under a build-operate-transfer (BOT) model. It is expected to significantly enhance connectivity between the tourism hubs of Antalya and Alanya,reducing travel times from approximately 2.5 hours to 36 minutes, improving road safety and supporting regional economic growth.
The lending group comprises multilateral development banks as well as leading international and Turkish financial institutions, including Asian Infrastructure Investment Bank (AIIB), Black Sea Trade and Development Bank (BSTDB), Islamic Development Bank (IsDB), Islamic Corporation for the Development of the Private Sector (ICD), Silk Road Fund Co, Industrial and Commercial Bank of China (ICBC), Deutsche Bank AG, Bank of Bahrain and Kuwait BSC (BBK), Akbank TAŞ, Türkiye Garanti Bankası AŞ, Türkiye Vakıflar Bankası TAO, TC Ziraat Bankası AŞ, QNB Bank AŞ and Kuwait Turkish Participation Bank INC.
The financing includes multiple tranches of conventional, covered and Islamic facilities and benefits from a debt assumption by the Turkish Treasury, offering sovereign support in line with Türkiye’s PPP framework.
