A €1.7 billion ( US$1.97 billion ) debt package has been put in place for the Antalya-Alanya Motorway project in Türkiye. The amount is approximately 70% of the total project investment cost of €2.5 billion.

Running approximately 122 kilometres along Türkiye’s Mediterranean coast, the motorway is being developed under a build-operate-transfer 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 consortium of lenders included the 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, Industrial and Commercial Bank of China ( ICBC ), Deutsche Bank, Bank of Bahrain and Kuwait ( BBK ), Akbank, Garanti BBVA, VakifBank, Ziraat Bank, Qatar National Bank, and Kuwait Turkish Participation Bank.

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 public-private partnership ( PPP ) framework.

Watson Farley & Williams ( WFW ) advised Turkish conglomerate Limak and project company Antalya Alanya Otoyolu İnşaat Yatırım ve İşletme. Cakmak Attorney Partnership acted as Limak’s Turkish counsel.

“We are proud to have supported Limak on securing financing for this landmark infrastructure project in Türkiye, the largest sustainability-linked financing for a BOT motorway project in the country,” says WFW infrastructure team ( Frankfurt ) partner Florian Kutzbach. “The Antalya–Alanya Motorway PPP highlights both the transformative potential of sustainable transport development as well as the strength and attraction of Türkiye’s PPP framework.”