Turkey - Berke Hydropower Project

AsJ IL' / &-7U - Document of The World Bank FOR OFFICIAL USE ONLY MICROFICHE COPY Report No. P- 5738-TU Type: (PM) KOCICi A. / X32396 / H5 151/ ECIIE MEMORANDUM1 AND RECOMMENDATION OF THE PRESIDENT OF THE INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT TO THE EXECUTIVE DIRECTORS ON A PROPOSED LOAN IN AN AMOUNT EQUIVALENT TO US$270 MILLION TO THE REPUBLIC OF TURKEY FOR A BERKE HYDROPOWER PROJECT MAY 5, 1992 IThis document has a restricted distribution and may be used by recipients only in the perfonnance of their official duties. Its contents may not otherwise be disclosed without World Bank authorization.  CURRENCY EOUIVALENTS Currency Unit - Turkish Lira (TL) TL 1.00 - 100 Kurus (KRS) US$1.00 - TL 6585 (April 24, 1992) TL 1.00 - US$0.0002 MEASURES AND EOUIVALENTS k (kilo) - 103 Ws (Watt second) - Joule (J) M (mega) - lo0 J - 0.239 cal G (giga) - 109 kcal - 3.968BTU T (tera) - 1012 kWh - 3.8 MJ A - ampere TOE - 10.2 Gcal V - volt TCE - 7.1 Gcal W - watt Meter (m) - 3.28 feet J - Joule Kilometer (km) - 0.6214 miles cal - calorie Kilogram (kg) - 2.2 pounds TOE - ton of oil equivalent Metric ton (t) - 2,205 pounds TCE - ton of coal equivalent BTU - British thermal unit PRINCIPAL ABBREVIATIONS AND ACRONYMS SEAS - Cukurova Elektrik A.S. (Cxkurova Electric Company) C&B - Goyne et Bellier (engineering consultants) DSI - Devlet Su Isleri (State Hydraulic Works) ICB - International Competitive Bidding LRMC - Long-Run Marginal Cost MENR Ministry of Energy and Natural Resources PCR - Project Completion Report PEE - Public Economic Establishment PPAR - Project Performance Audit Report SEE - State Economic Enterprise SPO - State Planning Organization SPK - Sermaye Piyasi Kurulu (Capital Markets Board) TEK - Turkey Electrik Kurumu (Turkish Electricity Authority) VAT - Value Added Tax Turkey - Fiscal Year January 1 to December 31  FOR OMCIL USE ONLY Loan and Prolect Suamarwr Borrower: The lepublic of Turkey Beneficiary: gukurova Elektrik A.S. (gLAS) Amount: US$270 million Terms: Seventeen years, including a five-year grace period, at the Bank's standard variable interest rate. Onlending Terms: The Government would charge gwAS a fee equivalent to 35 basis points p.a. on the outstanding balance of the Loan. gEAS would bear the foreign exchange risk, as well as the interest risk on the Bank Loan. Financing Plan: --US$ million Local Foreign Total X Bank Loan - 270.0 270.0 43 Cofinancing 10C.2 100.2 16 QEAS / 25.5 _ - 25 -Al 253.5 370.2 623.7 100 / ZxcludW*s peeoUmua pzoj.c*, ezpa&tur* of US$39.6 tLxUou equi