Turkey Financial News

Posted by meb at July 18th, 2008

The number of the companies and consortiums seeking to take part in Turkey’s first nuclear power plant project has increased to eight, with the Chinese Nuclear Power Components Co. and Dutch Unit Investment N.V. purchasing bid specifications.

Turkish Electricity Trading and Contracting Company (TETAŞ) had initiated a tender for the construction and operation of a nuclear power plant in the Akkuyu district of Mersin province in March. TETAŞ General Manager Hacı Duran Gökkaya said on Thursday he was expecting interest in the project to grow in the coming months. (more…)

Posted by meb at July 18th, 2008

The Baku-Tbilisi-Ceyhan (BTC) oil pipeline has transferred 418 million barrels of crude oil since it started operations in 2006, BTC Oil Pipeline Company Turkey General Manager Can Suphi has said.

Suphi noted that the daily capacity of the BTC pipeline is 1 million barrels, adding that the line is operating near full capacity, with daily transfer of 900-950,000 barrels. He said 530 oil tankers have been filled from the line thus far.

Suphi was speaking at the 12th Social Investment Program Workshop held in the Orfoz facilities at Eymir Lake yesterday, where participants discussed projects to further the development of settlements along the BTC pipeline. (more…)

Posted by meb at July 18th, 2008

The world’s leading private equity firm, the Carlyle Group, announced that it has bought 50 percent of shares in the TVK Shipbuilding Industry Trade Inc., which specializes in building chemical tankers.

This investment, concluded on Wednesday and approved by the Competition Board, is the first investment made by the Carlyle Group in Turkey.

Carlyle Group Turkey General Manager Can Deldağ indicated that their participation in the TVK is very important for the Carlyle Group and that they will work in close cooperation with the company management to ensure that the TVK is well positioned in the fast growing global shipbuilding sector. Deldağ pointed out that with its new facilities, strong management staff, know-how, quality and efficiency, the TVK has considerable competitive advantages in many segments of the sector. (more…)

Posted by meb at July 18th, 2008

Gulftainer, the second biggest port operator in the United Arab Emirates, has acquired a 50 percent share of the Turkish logistics company Demas International for 10 million euros.

Demas International, a freight company providing services in land, air, sea and rail transportation, is affiliated with Sedef Holding, whose majority share in Demas was owned by Demir Sabancı.

Murat Kavrar, general manager of Demas International, spoke yesterday at a press conference in Istanbul held to announce the deal with Gulftainer. He said Gulftainer specializes in logistics, adding that it is active in many countries and has strong trade relations with Turkey. The company also operates in several other sectors, ranging from retail sales of electronics to aviation and plastic packaging to the insurance business, he noted. (more…)

Posted by meb at July 17th, 2008

Eight companies and consortiums have so far received specifications for Turkey’s first nuclear power plant tender, a senior Turkish official said on Thursday

“China Nuclear Power Components from China and Unit Investment N.V. from the Netherlands are the last two companies that have received specifications to construct and operate a nuclear power plant in the Mediterranean province of Mersin and sell electrical energy to the Turkish Electricity Trading and Contracting (TETAS),” said Haci Duran Gokkaya, the director-general of TETAS. (more…)

Posted by meb at July 17th, 2008

Russian billionaire Roman Abramovich, especially famous for his ownership of British Premier League soccer club Chelsea, is planning to order a second yacht from Turkey, after being impressed by the technology and craftsmanship of his first one.

Ada Marine Group Executive Board President Murat Bilican recalled that the Russian tycoon had initially purchased an ABY 36 Oyster model luxury yacht, which was constructed at İstanbul’s Tuzla shipyards last year and delivered to Abramovich in December. The construction had taken nine months, a fairly quick turnover time for yachts of this class. “The first yacht is currently anchored at Chelsea harbor in London,” Bilican noted. The first yacht, which cost YTL 780,000, has a composite hull made of bulletproof carbon fiber. All the necessary technology for communication was also installed in the yacht, allowing its owners to contact any location in the world. (more…)

Posted by meb at July 17th, 2008

Verbund, Austria’s biggest utility, and Turkish partner Sabanı Holding are planning to expand in Turkey by building power plants and buying distribution grids. In order to accopmlish its plans the venture was granted a 1-billion-euro ($1.6 billion) loan by the World Bank’s International Finance Corp., Akbank and WestLB. “Our goal is to buy at least one more large distribution large company or two mid-sized ones,” Sabancı Chief Executive Officer Ahmet Dördüncü said in an interview Tuesday. “We currently have 3 million customers, and we want to raise that to at least 6 million people.” Enerjisa, co-owned by Sabancı and Verbund, bid $1.23 billion to win a state tender July 1 for the Turkish capital Ankara’s electricity distribution grid, which has 2.9 million customers. (more…)

Posted by meb at July 17th, 2008

Turkey’s year-on-year exports surpassed $125 billion and have reached the target for this year, a state minister announced yesterday.

Exports rose 35 percent between Jan. 1 and July 15, State Minister Kürşad Tüzmen told the Anatolia news agency. Industrial products exports reached $64 billion in the first half of the year, Tüzmen said, adding that the iron and steel sector reported the greatest rise, with an increase of 69 percent. (more…)