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 1.8 million mt of steel pipes. 400,000 mt of steel pipes will be supplied by Toscelik, 350,000 mt will be supplied by the Borusan Mannesmann-Noksel-Erciyas consortium and 230,000 mt of pipes will be supplied by the Turkish Umran-Emek consortium. Borusan started pipe production for TANAP on April 22, 2015, and made the first shipment to Ankara in July of the same year.