Tumad Gold Mines Development

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Project Information

Investment ID: 49041

Bank: European Bank for Reconstruction and Development

Environmental Category: A

Country: Turkey

Region: Europe and Central Asia

Approval Date: None

Investment Types: Loans

Total Project Cost: USD 333.2 million

Total Complaints: 1

Description

A USD 40 million senior project finance loan (the "Loan") to Tumad Madencilik Sanayi ve Ticaret A.S. ("Tumad" or the "Borrower"), a 100% subsidiary of Nurol Holding Inc ("Sponsor") to finance the development of the Lapseki and Ivrindi gold projects located in the Canakkale and Balikesir provinces of Turkey, respectively (the "Project)". The loan is fully guaranteed by the Sponsor.

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