Business · Companies · 6 hrs ago
İzmir Port to Get $1.5 Billion Modernization
Türkiye Wealth Fund plans a $1.5 billion upgrade of İzmir Port, also known as Alsancak Port, on Turkey’s Aegean coast.
The investment will be carried out in two phases, while cargo operations are run by Alport and ownership remains with the fund.
Dredging is scheduled to begin in early 2027 so ships up to 400 metres long can enter the port.
The first phase is planned to take four years, and a second phase is expected to be completed over 10 years as cargo volumes grow.
Older quays will be rebuilt, and the cruise quay is due to close in early 2027 for safety work before a planned reopening in 2029.
The upgrade aims to lift container capacity to 3 million TEU and other cargo capacity to 10 million tonnes when both phases are complete.
Deeper water and stronger rail links are intended to reduce ship delays and transfer needs for exporters in the Aegean region, and the work is planned to proceed without interrupting port operations.
TVF İzmir Limanı will receive $1.5 billion in modernization investment across two phases.
The work is intended to allow larger ships to use the port and increase cargo-handling capacity.
Dredging is planned to begin in the first quarter of 2027, while older quays will be renovated.
TVF retains ownership and investment responsibility, while Alport operates daily cargo activities.
After both phases, the port is projected to handle 3 million TEU of containers and 10 million tonnes of other cargo.
- Who
- TVF İzmir Limanı and Alport are involved in the modernization. TVF retains ownership and investment responsibility, and Alport runs daily cargo operations.
- What
- The port will receive $1.5 billion in modernization investment, including dredging and quay renovations.
- When
- Dredging is planned to begin in the first quarter of 2027. The first phase is planned to take four years, and the second phase up to 10 years.
- Where
- İzmir Port, in İzmir, Türkiye.
- Why
- To serve larger ships and increase cargo-handling capacity and operational efficiency.
This story does not have two clearly opposing sides.
TVF took over the port from Türkiye’s State Railways.
Dredging is planned to begin.
The port plans to close the cruise quay early in the year for safety reasons and renovate it over two years.
The port aims to welcome cruise ships again at the renovated quay.
- Investment
- $1.5 billion across two phases
- Dredging start
- Planned for the first quarter of 2027
- First phase
- Four years
- Dredging duration
- About two years
- Projected container capacity
- 3 million TEU after both phases
- Projected other cargo capacity
- 10 million tonnes after both phases
What people are saying
We are planning a total investment of $1.5 billion in two phases for the cargo side.
The port’s ownership will remain with TVF Liman AŞ and we will make the investments entirely ourselves.
We increased the number of moves per hour per ship from 13 before the transfer to 63 as of August.
When the depth problem is resolved and large ships call directly, the need for transshipment for Aegean exporters will decrease, transit times will shorten and freight rates will become more competitive.