Turkish-Arab Economic Forum Presentation by TAV Airports Holding “A unique PPP example in Infrastructure Projects” Burcu Geriş CFO TAV Airports Holding
Mar 31, 2015
Turkish-Arab Economic Forum
Presentation by TAV Airports Holding“A unique PPP example in Infrastructure Projects”
Burcu GerişCFO
TAV Airports Holding
TAV Airports Holding«A unique PPP example in Infrastructure Projects»
April 2013,Burcu GERİŞ, CFO
TAV Group is specialised in only airports.
TAV can offer a wide range of solutions, from planning to construction, from full fledge management to financing of airports under one umbrella.
This alone, globally positions TAV as a unique airport partner.
TAV Airports - AdP: A Global Footprint
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France Paris-CDG: 62mn pax Paris-Orly: 27mn pax Owner and operator
Schiphol Group (8%) 51mn pax Industrial cooperation
Liège (25.6%) 0.6mn tons of freight Strategic partner
Jeddah (Hajj Terminal) – Saudi Arabia 7mn pax Management
contract
Amman – Jordan (9.5%) 6mn pax Management contract Strategic partner
Cambodian Airports Phnom Penh & Siam Reap:
4mn pax Assistance in management
Conakry Airport (29%) 0.3mn pax Operator
Algier Airport 5mn pax Operator
Mauritius (10%) 3mn pax Operator Strategic partner
Tunisia (67%) Enfidha & Monastir
3.3mn pax Concession operator
Turkey Istanbul Ataturk: 45mn pax Ankara: 9mn pax Izmir: 9mn pax Gazipasa Concession operator
Georgia (76%) Tbilisi & Batumi: 1.4mn pax Concession operator
Macedonia (100%) Skopje & Ohrid: 0.9mn pax Concession operator
Medinah (Saudi Arabia) (33%) Concession operator
13 Regional airportsMexico North Central (25.5%)¹ 13mn pax Operator & Strategic partner
TAV Airports
AdP
TAV Airports : 12 airports in 6 countries under management representing 72m paxTAV Airports + AdP: A global platform of 37 airports under management representing 200m Pax
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TAV Airports Holding: An Integrated Business Model
TGS (50%)
Havaş Europe (67%)
Airport Companies
Atatürk (100%)
Esenboğa (100%)
Adnan Menderes (100%)
Gazipaşa (100%)
Tbilisi & Batumi (76%)
Monastir & Enfidha (67%)
Skopje & Ohrid (100%)
Latvia (100%)
Medinah (33%)
Service Companies
ATÜ (50%)
BTA (67%)
Havaş (100%)
O&M (100%)
IT (99%)
Security (100%)Synergy between TAV Airports and TAV Construction is another key success factor in PPP projects.
TAV Construction Projects (end of 2013)
New Doha International Airport Terminal Complex and A, B & C Concourses
QATAR
Skopje Alexander the Great Airport
Ohrid St. Paul the Apostle Airport
MACEDONIA
Cairo International Airport Terminal Building 3
EGYPT
New Tripoli Int. Airport
New Sebha Int. Airport
LIBYA
Tbilisi International Airport
Batumi International Airport
GEORGIA
Istanbul Ataturk International Airport Construction, Extension and Renovation Works
Ankara Esenboğa International Airport
İzmir Adnan Menderes International Airport
Alanya Gazipasa Int. Airport
Istanbul Ataturk Int. Airport Ext. and Tri-Generation Plant
TURKEY
Aircraft Maintenance Hangar Project
Medinah PMI Airport Project
SAUDI ARABIA
Emirates A380 Hangars Roof
Tohid Iranian School
Al Sharaf Shopping Mall
Majestic Tower in Sharjah
Sulafa Tower Project
Emirates Financial Tower
Abu Dhabi Int. Airport Pile Caps
UAE
Development of Muscat International Airport Infrastructure Works
OMAN
Izmir Adnan Menderes Domestic Terminal Project
TURKEY
Abu Dhabi Midfield Terminal Building Project
Marina 101 Project
UAE
New Enfidha International Airport
TUNISIA
Completed Projects Value
USD 6.8 Billion
Ongoing Projects Value
USD 8.8 Billion
CLIENT (GRANTOR)
LENDERS
TECHNICAL ADVISOR
LEGAL ADVISORS
PROJECT COMPANY(Subsidiary of TAV Airports)
CONTRACTOR
(TAV Construction)
Subcontractors Suppliers
Technical Consultants
3rd Party Independent
QA/QC
Architect
Author
BOT / CONCESSION AGREEMENT
EPCCONTRACT
Parties in Contracts - Typical EPC vs. BOT scheme
Synergy with TAV Construction
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12 BOT Projects delivered under TAV Airports & TAV Construction harmony
Enfidha Hammamet International Airport
Medinah Prince Bin Abdullaziz International Airport
SAMPLE PPP CASES
Enfidha HammametInternational Airport
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
CONTRACT PERIOD - MONTHSDecember 2007
Enfidha Hammamet International Airport
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CONTRACT PERIOD - MONTHSFebruary 2008
Enfidha Hammamet International Airport
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
CONTRACT PERIOD - MONTHSApril 2008
Enfidha Hammamet International Airport
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
CONTRACT PERIOD - MONTHSJune 2008
Enfidha Hammamet International Airport
August 2008 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
CONTRACT PERIOD - MONTHSAugust 2008
Enfidha Hammamet International Airport
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
CONTRACT PERIOD - MONTHSOctober 2008
Enfidha Hammamet International Airport
December 2008 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
CONTRACT PERIOD - MONTHSDecember 2008
Enfidha Hammamet International Airport
February 2009 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
CONTRACT PERIOD - MONTHSFebruary 2009
Enfidha Hammamet International Airport
April 2009 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
CONTRACT PERIOD - MONTHSApril 2009
Enfidha Hammamet International Airport
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
CONTRACT PERIOD - MONTHSJune 2009
Enfidha Hammamet International Airport
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
CONTRACT PERIOD - MONTHSAugust 2009
Enfidha Hammamet International Airport
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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
CONTRACT PERIOD - MONTHSOctober 2009
Enfidha Hammamet International Airport
Duration of the Construction : 24 Months
Operation Period : 40 years
Terminal Building Area : 90,000 m²
Total Construction Area : 800,000 m²
Apron Area : 129,000 m²
Passenger Boarding Bridges : 18 units
Total Passenger Capacity : 7m
Total Project Cost : USD 715m
Total Financing Raised : USD 513m
Facts and Figures (Enfidha Airport)
Enfidha Airport, is financed under a 20 years Project Finance regime. The group of lenders are led by IFC, EIB, AfDB, Societe Generale, RBS, StandardBank and Proparco.
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Medinah Prince Muhammad Bin Abdullaziz International Airport
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First Full Fledge Airport PPP in Kingdom of Saudi Arabia
To be Completed in 32 months (February 2015)
Expected to cost USD 1.2b
State-of-the-art 138,000 sqm passenger terminal building
Construction of various ancilliary buildings
Extension of runway and construction of a number of new taxiways
18 Passenger Boarding Bridges and 20 new remote stands,
Upgrade of airport lighting and fueling system
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Total Financing Raised: USD 1.1 b (Lenders: NCB, ANB, SABB-HSBC)
First large project finance transaction in KSA which is wholly financed on a Shariah compliant basis
First infrastructure project in KSA with traffic risk element
3. Sera Yapi Endustrisi A.Ş.Focussed on construction in Turkey & MENA region
4. Other Non-floating5. Free Floating6. Aeroport de Paris*
Internationally acclaimed airport operating company with global operations
1. Tepe Insaat Sanayi A.Ş.Turkish conglomerate focused on infrastructure and construction
2. Akfen Holding A.Ş.Holding company operating in the infrastructure, construction, seaport, REIT and energy sector
Shareholder Structure
(1) 8.1% (2)
8.1%
(3)2.0%
(4)3.5%
(5) 40.3%
(6) 38.0%
*Through Tank ÖWA alpha GmbH
Aéroports de Paris (ADP) is one of the leading European airport groups● EUR 2,502m revenue and EUR 972m EBITDA in 2011● 88mm pax in Paris (CDG and ORY) + 40mm Pax
under management in 9 countries● Over 9,100 professionals
Appendix: Aéroports de Paris Acquired 38% of TAV Airports (2012)
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