Turkey approves Bill for toll roads IPO
The Turkish Parliament has approved an amendment to the Highways Code that will enable the establishment of a legal corporation to pave the way for the public offering of toll roads and bridges.
This could mean that the public offering could be completed in the first semester of 2014 if all the bureaucratic processes are passed as planned, authorities say.
The draft was passed into law on February 6, as part of an omnibus bill that also included a highly controversial Internet bill.
The code included changes necessary for the establishment of a company to which the General Directorate of Highways could transfer toll roads and bridges' operational rights.
Turkish Finance Minister Mehmet Åžim?ek announced in March 2013 that the Supreme Privatization Board (ÖYK) had cancelled a $5.7 billion tender for the privatization of highways and bridges. This tender would have given the winning consortium of Koc Holding (40 %), Malaysia's UEM Gorup Berhad (40 %) and Gözde Giri?im (20%) the operating rights for the 2,000 kilometer Edirne-Istanbul-Ankara highway as well as for Istanbul's two bridges for the next 25 years.
The reason behind this decision was that the government had higher expectations for the privatization.
Country news
-
-
March 14, 2014
YDA Insaat wins tender to operate Turkish airport
YDA Insaat has announced that it has won the tender process for a concession contract to operate the Dalaman Airport, located in southwestern Turkey. Read more -
April 29, 2014
Derince port tender relaunched
A tender process to concession the Derince Port for 39 years in the Turkish northwestern province of ?zmit has been relaunched on 18 April 2014. After several failures, the concession period has been extended to increase the potential profitability of the project. Read more -
May 05, 2014
GMR completes sale of stake in Istanbul's airport
GMR Infrastructure last week announced receipt of Rs.17,400 million (€209 million) as culmination of divestment of its 40% equity stake in Istanbul Sabiha Gokcen Airport (ISG) to Malaysia Airports Holding Berhard (MAHB). Read more -
June 10, 2014
Winner emerges for $543m Derince port concession
Local Turkish firm Safi Kat? Yak?t Sanayi, Ticaret A.Åž. offered the highest bid with an offer of $543 million and won the tender for Derince Port last week in ?zmit. Safi said that the firm is going to invest $300 million in construction in the port and that within five years they plan to have the first phase of the construction finished. Read more -
June 12, 2014
Yildirim plans sale of stake to support growth
Yildirim Holding AS, a family-owned Turkish company with global interests in mining, transportation and energy, has announced plans to sell a stake in its ports unit, Yilpor Holding AS. Read more
