Turkey Financial News

Posted by meb at January 19th, 2009

Turkish energy minister said the consortium, which offered 21.16 cents kWh for the construction and management of Turkey’s first nuclear power plant, revised its initial offer on Monday.

Turkey’s government has received a revised offer from the consortium, formed by Russia’s state-run Atomstroyexport, Inter RAO and Turkish Park Teknik to the nuclear plant, Dogan News Agency reported Turkish Energy Minister Hilmi Guler saying in Ankara. (more…)

Posted by meb at December 12th, 2008

Turkey earned 6.3 billion USD from privatization in 2008. Also it will gain 4.2 billion USD after hand over procedures of other privatized companies are completed.

Turkey earned 2.04 billion USD from privatization of Petkim Petrochemical Holding, 2.2 billion USD from TEKEL (state-owned tobacco company), 1.9 billion USD from public offering of Turk Telekomunikasyon and 89.2 million USD from its hand over procedures in 2008.
source: Today’s Zaman

Posted by meb at December 5th, 2008

The Turkish-Korean Joint Venture (TKJV) has won a tender for construction of a vehicle tunnel underneath the Bosporus. The TKJV released a written statement Thursday saying the project, expected to cost $1 billion, could be finished within the next four-and-a-half years.

The project will be based on the build-operate-transfer (BOT) model. The tube is anticipated to ease traffic in the city of 15 million.

The new tunnel will be constructed on a two-tier system with traffic flowing in opposite directions. At 14.6 kilometers long, including sections both underwater and above ground, it will start in Sirkeci on the European side and end in Göztepe on the Asian side of the city. (more…)

Posted by meb at December 4th, 2008

South Korea’s SK Engineering & Construction Co said on Thursday its consortium won a underwater tunnel order worth $1 billion in Istanbul.

SK Engineering, an unlisted unit of SK Group, said in a statement it partnered with a Turkish company, Yapi Merkezi, and four South Korean builders to bid for the project. (more…)

Posted by meb at November 29th, 2008

A tender for the 3G mobile communication system ended yesterday with the participation of Turkey’s three GSM operators, bringing a total of 822 million euros into the Treasury with another 148 million euros going to the Finance Ministry as the value-added tax (KDV).

This extra revenue is expected to increase confidence in Turkish markets and improve the budget balance.

Despite some pessimism that the tender would not achieve the expected returns and the prospect that it might have been postponed again due to a lack of demand, the result was a success amid the global financial crisis which has rendered it difficult for companies to find credit to finance their bids. The mobile operators that shared the 3G licenses in yesterday’s standoff announced they would pay the amount as a lump sum.

The tender marked the dawn of a new era in mobile communication technology, as the introduction of 3G will bring a number of novelties such as visual communication, watching TV on phones and much faster Internet connections. (more…)

Posted by meb at November 21st, 2008

The Savings Deposit Insurance Fund, or TMSF, has collected $18 billion by selling assets it collected from owners of confiscated banks and corporations over the last five years.

Asset sales bring in $18 bln Since 2003, when Ahmet Ertürk became the TMSF chairman, the fund has sold 11 radio stations, 11 television stations, and six newspapers via tender. The fund has also sold one bank, two football clubs, 25 factories, two ports, 11 marine vessels, five helicopters, 6,100 real estate properties, 2,000 vehicles, 300 items of heavy construction machinery, 500 guns, 145,000 household goods, 5,000 wines, 844 boxes of cigars, 500 oil paintings, 9,500 items of jewellery, 275 copyright licenses and 500 livestock.

Having sold 41 companies via tender, TMSF attained its highest income, $4.5 billion, from Telsim, a mobile phone operator acquired by Vodafone. The sale of daily Sabah and the Atv channel to Çalık Group followed for $1.1 billion. (more…)

Posted by meb at November 13th, 2008

Turkey’s National Lottery Administration, which will be privatized through the license handover method, reported total earnings of $4.4 billion in the last five years, the Anatolian Agency reported on Thursday.

According to the figures compiled from the National Lottery, the institution repaid $1.9 billion in prizes and contributed some $2.3 billion to public finance during this period.

The Privatization Administration Board of Turkey has recently opened a tender to privatize the National Lottery Administration for 10-years, in which it will receive bids until Feb. 27, 2009.

Companies or consortia that are interested in the privatization of the administration have to apply for pre-qualification by Jan. 15, 2009. (more…)

Posted by meb at November 11th, 2008

Turkey will make changes to a nuclear energy tender law after nearly two months it received only one bid in a tender to build the country’s first nuclear power plant, Reuters reported on Tuesday citing an Energy Ministry official.

A consortium led by Russian state firm Atomstroyexport, together with Inter RAO and Turkish Park Teknik, was the only bid in a tender to build and operate the country’s first nuclear power plant in Mersin on the Mediterranean coast.

The tender held in September was disappointing given the fact that a number of foreign and local companies had previously expressed interest but did not submit bids. (more…)