Turkey Financial News

Posted by meb at November 12th, 2008

Turkey will make changes to a nuclear energy tender law nearly two months after it received just one bid in a tender to build the country’s first nuclear power plant, an Energy Ministry source told Reuters yesterday.

A consortium comprised of Russian Atomstroyexport and Inter Rao along with Turkey’s Park Teknik Group was the sole bidder in a tender to build and operate Turkey’s first nuclear power plant in Mersin on the Mediterranean coast. Turkey plans to build three nuclear power plants with a capacity of 4,000 megawatts, plus or minus 25 percent, as part of efforts to reduce a costly dependence on energy imports.

Turkey is still considering the bid submitted by the Russian-Turkish group, the Energy Ministry source said. (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…)

Posted by meb at November 4th, 2008

While the tender process for the nation’s first nuclear power plant has not yet been finalized, the government has approved the start of a second plant

Having come under fire for mishandling the tender process for the nation’s first nuclear power plant, the Turkish government is already pushing the button for the go-ahead on a second station.

The only proposal to build the country’s first nuclear power plant in the Mediterranean coastal town of Akkuyu in Mersin, was submitted by a consortium formed by Russia’s Atomstroy export, Inter RAO and Turkey’s Park Teknik, a unit of Ciner Holding, last September.

Energy experts criticized the bid from the start, arguing the energy ministry had mismanaged the whole affair and Turkey would become even more dependent on Russia for energy. Several companies, including Turkey’s Sabancı Holding, requested a postponement of the tender and some said the timetable was insufficient to prepare a proposal, but the ministry pressed on. (more…)

Posted by meb at October 22nd, 2008

Turkey expects to complete a nuclear power station tender within one or two weeks after “some questions are asked” to the winning Russian firm, Energy Minister Hilmi Guler told reporters on Wednesday.

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.

The tender was assessed as disappointing by analysts given the fact that a number of foreign and local companies had previously expressed interest but did not submit bids, making the Russian consortium the sole bidder.
source: Hurriyet daily

Posted by meb at September 6th, 2008

General Electric, the world’s biggest maker of power generation equipment, still plans to submit a bid to build Turkey’s first nuclear power plant even though it will probably miss a Sept. 24 government deadline.

GE’s nuclear venture with Hitachi, Japan’s third-largest builder of atomic plants, is working on a bid with partners Turkey’s Sabancı Holding and Spain’s Iberdrola, Jack Fuller, GE Hitachi Nuclear Energy’s chief executive officer, said in an interview.

“We are preparing the proposals, I just don’t think it can be completed before Sept. 24,” he said Wednesday in London. “The government also wants competition. They want multiple providers of nuclear technology. So if they only get, let’s say, one on the 24th, then that probably won’t satisfy their needs anyway.” (more…)

Posted by meb at September 5th, 2008

General Electric, the world’s biggest maker of power generation equipment, still plans to submit a bid to build Turkey’s first nuclear power plant even though it will probably miss a Sept. 24 government deadline, Bloomberg reported on Thursday.

GE’s nuclear venture with Hitachi, Japan’s third- largest builder of atomic plants, is working on a bid with partners Turkey’s Sabanci Holding and Spain’s Iberdrola, Bloomberg reported Jack Fuller, GE Hitachi Nuclear Energy’s chief executive officer as saying.

“We are preparing the proposals, I just don’t think it can be completed before September 24,” he said adding that “The government also wants competition. They want multiple providers of nuclear technology. So if they only get, let’s say, one on the 24th, then that probably won’t satisfy their needs anyway.”

Turkey is among the governments worldwide leaning toward nuclear power to reduce carbon dioxide emissions, blamed for global warming, and as fossil fuel prices surge. (more…)

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 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…)