European Investment Bank to allocate €1 billion for TANAP

Pim Van Ballekom, vice president of the European Investment Bank (EIB), has stated that the EIB will allocate €1 billion to finance the construction of the Trans-Anatolian Pipeline (TANAP) Project, which is expected to cost over €8 billion in total, as reported by Turkish media.

Construction of TANAP began in 2014 with the aim of transferring gas from Azerbaijan to Europe via Turkey, while the project is expected to use a total of 1,8million mt of steel pipes. 400.000mt of steel pipes will be supplied by Tosdcelik, 350.000 mt will be supplied by the Noksel-Borusan-Erciyas consortium and 230.000 mt of pipes will be supplied by the Turkish Umran-Emek consortium.

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