Under the terms of the MoU, both parties have now entered into an exclusive period. During this period GPH and the Government of Antigua and Barbuda will continue to carry out further extensive due diligence and both parties will work towards the successful signing of the concession agreement.

Following the successful execution of the concession agreement, GPH will use its global expertise and operating model to manage the cruise port operations in the islands of Antigua. In addition, GPH is willing to invest into a material upgrade of the St. John’s cruise port including the construction of a new pier that will allow the port to handle Oasis class ships, as well as investing in improving the current retail facilities and designing and constructing of new purpose-built retail and F&B facilities.

GPH is committed to not only improving the overall cruise passenger experience in Antigua & Barbuda but we are also committed to driving significant economic benefits for the local residents through improving the facilities in and around the port and driving increased passenger spend in the destination. In addition, as part of the proposal, GPH, will establish a charitable foundation to support essential social programs in Antigua and Barbuda.

St John’s cruise port offers cruise passengers an opportunity to enjoy a range of experiences and a host of attractions. From the Unesco listed historic Nelson’s Dockyard and fortifications at Shirley Heights through to the town of St John’s itself or any of a large number of beaches that offer a range of activities to suit a wide range of passenger needs. In 2018, St. John’s cruise port will welcome c800k passengers, the completion of the new pier and upgrade of the facilities are expected to lead to a rise in passenger volumes to over a 1m in the medium term.

The signing of the Concession Agreement is subject to both parties’ agreement on its final terms. Signing is expected to occur in H1 2019, although there can be no certainty as to the timing or that the terms of a concession agreement will be agreed. A further announcement will be made when it is appropriate to do so.

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The Secretary General of Global Investment Holdings, Gökhan Özer received the award at the ceremony and stated that “Global Securities aims to support education with its all sources; and Parilti’s aim to support the viaually impaired children from birth to the end of the education period enabled us to cooperate with them.”

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The report issued by Kobirate will also be available through Global Investment Holdings website Corporate Governance Rating Report page.

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After having commissioned its first biomass power plants a year ago, Global Investment Holdings commissioned its third biomass power plant in Mardin/Derik with 12MWe installed capacity as of October 31st, within a record time frame of less than a year, increasing its total biomass based installed capacity to 29.2MWe.

The plant with 12 MWe located in Mardin/Derik, in Turkey’s southeast region, will transform corn and cotton stalks into energy. The plant is one of the largest industrial investments in the region and is expected to bring remarkable economic activity and employment supporting both energy and agriculture sectors. The facility is expected to generate about 80 million kWh of electricity per annum, meeting the electricity requirement of more than 30 thousand households. Mardin/Derik biomass power plant will be subject to Renewable Energy Resources Support Mechanism (YEKDEM), selling electricity at 13.3 dollar-cent/kWh.

By converting residues and waste from agricultural fields, forests, and livestock into energy, Global Investment Holdings aims to reduce our country’s dependence on energy imports by focusing on renewable resources and contribute to the country’s economy, while providing significant regional employment opportunities. These clean and domestic resources, which are collected and converted from the fields in an environmentally conscious manner, are considered as renewable energy.

Global Investment Holdings’ Chairman, Mehmet Kutman, stated that: “Turkey has the potential to install more than 5,000 MW of biomass based power capacity. Biomass based power generation in Turkey is currently a nascent field, with less than 1% share in total electricity generation. With its vast agriculture areas and livestock activities, Turkey has an important potential in this regard. Biomass sector is a field which is quite mature and developed in other international markets. We are one of the very few companies that combine biomass collection activity and power plant operation under one single roof.”

Global Energy and Mining CEO, Atay Arpacıoğulları further underlined that: “We are pleased to announce that we have commissioned our third biomass power plant within a record time frame of less than a year, after displaying an exemplary show of dedication and teamwork. Mardin/Derik plant will be one of the largest industrial investments in the region creating a significant economic activity from an idle material. We believe our investment will not only reduce our dependence on imported resources in energy but also improve the region’s agricultural yields and efficiency by avoiding stalk fires on fields. Our first power plants from biomass resources were commissioned in 2017 with 17.2MWe installed capacity in Aydın/Söke1 (12MWe) and Urfa/Haliliye (5.2MWe) with feed-in tariff at 13.3 dollar-cent/kWh like Mardin/Derik plant. We plan to complete the 12MWe capacity extension of our Aydın/Söke1 plant in the near future expanding Global’s biomass based installed capacity to 41.2MWe and positioning as a market leader in this flourishing sector.

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JCR Eurasia Rating, in its periodic review, has evaluated Global Investment Holdings in an investment-level category on the national and international scales and affirmed the ratings on the Long Term National Scale as ‘BBB+ (Trk)’ and determined the Short Term National Scale as ‘A-2 (Trk)’ with ‘Stable’ outlooks. Additionally, JCR Eurasia Rating has affirmed the Long Term International Foreign and Local Currency Ratings as ‘BBB-’. Additionally, JCR Eurasia Rating has affirmed the Long Term International Foreign and Local Currency Ratings as ‘BBB-’.

More information can be found in our Credit Ratings page.

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Global Ports Holding Plc (“GPH Plc” or “Group”), the world’s largest independent cruise port operator, is pleased to announce that it has signed a 20-year concession agreement (“the Agreement”), between its wholly owned operating subsidiary Zadar International Port Operations d.o.o. and the Port Authority of Zadar for the operating rights of the Gazenica cruise port in Zadar, Croatia. This agreement follows the announcement made by GPH on the 19th March 2018 that the Port Authority of Zadar had issued an award decision to grant a concession to GPH subject to entering a final concession agreement.

Under the terms of the Agreement, GPH will from Q4 2018, use its global expertise and operating model to manage all of the cruise port operations at Gazenica port over the life of the concession. The concession includes cruise ship passenger port and terminal services, an international ferry terminal, Ro-Ro services, vehicles and passenger services. It also contains a commercial area of 2,400sqm, with leasable retail and office space. The cruise ports infrastructure includes a maximum draft of 13m and 1170m of total pier length to accommodate big ships. In 2017, Zadar welcomed 137k cruise passengers, with schedule calls for 2018 suggesting that this will grow to close to 150k passengers for 2018.

Zadar is a historical town on the Adriatic coastline in Croatia, it is well positioned near a number key cruise ports in the region, including Venice and it offers cruise passengers an easily accessible old town with Roman ruins, medieval churches and 16th century fortifications. While the surrounding areas offers a host of sites and activities for cruise passengers who wish to venture further afield.

Gazenica cruise port is the second new cruise port GPH has signed in 2018, increasing the number of ports we operate to 17 ports in 9 countries. The pipeline of new cruise ports remains strong and we will update investors on the pipeline as and when it is appropriate to do so.

Global Ports Holding, CEO Emre Sayin said: “We are delighted to have signed the concession agreement for Zadar Gazenica cruise port and very much look forward to working with our local partners to position Zadar as an important cruise port in the Adriatic, driving an increase in passenger volumes to the port as well as developing the cruise port and wider visitor experience in Zadar to the benefit of cruise passengers, the port authority and the local community.

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3rd Capital Market Awards, organized by Turkish Capital Market Association, were given in a ceremony attended by Deputy Prime Minister, Hon. Mehmet Şimşek. During the ceremony, Actus Asset Management, a subsidiary of Global Investment Holding, received the Most Creative Capital Market Project Special Award. Through Gaziantep Integrated Health Campus Private Equity Fund, which was founded in 2017, there were a lot of firsts in Turkish capital markets.

Mr. Hocaoğlu, who received the award, said “This is the first private equity fund that was founded within the Capital Market Association’s regulations which finances an infrastructure. It is the first fund with shares allocated to foreign investors with a term of 29 years, the longest term. The fund was able to contribute to close the finance of the project, by enabling an equity finance of EUR 600 million investment.” Mr. Hocaoğlu also called attention to the fact that it is the first time a fund, founded in Turkey and subjected to the regulations of Turkish Capital Market Association, was registered abroad. He went on to say “The fund is registered by Financial Supervisory Services (FSS) Korea. The fund is registered in both countries.

We presented a new model of investment

Hocaoğlu said “With our project, we presented a new model of investment in Turkey, that can help other funds to launch. We will continue with our goal of becoming the biggest independent asset management company and to support new projects that will be inspiration in our country.

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