Gubretaş Signs $190 Million Deal for Iskenderun Port
· AA Tarım & Ekonomi
Gubretaş, an affiliate of Agricultural Credit Cooperatives, signed a $190 million investment protocol with Alport for the modernization and 35-year operation of Iskenderun Port, with ownership remaining with Gubretaş.
Gubretaş, an affiliate of Agricultural Credit Cooperatives, has signed a strategic agreement with Alport Port Operations Inc. for the rehabilitation, development, and operation of Iskenderun Port, with ownership to remain with Gubretaş. The signing ceremony was attended by Agricultural Credit General Manager Hüseyin Aydın, Holding Executive Board Deputy Chairman Temel Tayyar Yeşil, Gubretaş Board Deputy Chairman Uğur Özyiğit, Gubretaş General Manager Musa Goral, as well as Albayrak Group Chairman Ahmet Albayrak, Vice Chairman Nurettin Canikli, and Board Member Mustafa Albayrak. Within the scope of this collaboration, a comprehensive modernization process has been initiated at one of the region's most critical logistics centers.
Iskenderun Port, whose infrastructure was aging and nearing the end of its economic life even before the Kahramanmaraş-centered earthquakes on February 6, entered a phase of urgent investment need following earthquake damage. Under the agreement, Alport will make an investment of approximately $190 million in the port. With the experience of the company, which operates a total of 8 ports domestically and internationally, the facility will be transformed into a high-capacity and competitive port structure. According to the prepared model, Gubretaş will receive a fixed operating fee as well as a share of the revenue during the 35-year contract period, with an expected revenue of approximately $350 million entering Gubretaş's coffers during this time.
The signed protocol includes important provisions that will secure the agricultural input and fertilizer supply in the region. Within the scope of the contract, Alport will construct new infrastructure and superstructure investments on a 30,000 square meter area for Gubretaş's operations in Iskenderun. During the investment works, the company's fertilizer production and shipment activities in the region will continue without any interruption. Thus, the agricultural production chain will be ensured not to be disrupted, and the fertilizer logistics for farmers will operate seamlessly.
Gubretaş General Manager Musa Goral highlighted the strategic value of the port, stating:
| Value | Period | Measure |
|---|---|---|
| 190 million $ | 2026 | Port investment amount |
| 8 units | — | Number of ports operated by Alport |
| 30 thousand square meters | — | Fertilizer activity area investment |
| 35 years | — | Operation contract period |
| 350 million $ | 35 years | Fertilizertaş projected total revenue |