Turkey receives six bids for Derince Port

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Turkey receives six bids for Derince Port

Six companies have bid for the concession rights to operate Derince Port for 36 years. The port is located at the northwestern province of ?zmit.

Cengiz ?n?aat, which is also one of five companies forming the joint venture that won Istanbul's airport tender for $22 billion, Y?lport Holding, Safi Kat? Yak? Sanayi, Kumport Liman, Ceynak Lojistik ve Ticaret and British shipping and logistics firm The Peninsular, are the bidders.

The deadline for submission of bids was January 16,2014.

Although date for the auction hasn't been specified publicly, Erste Group Research said in its Turkish equity daily on Friday that the tender is expected to be held this week.

The first tender for the transfer of operating rights of Derince Port was held in 2007, in which Türkerler Joint Venture Group was the highest bidder with $US195.25 million. However, the Council of State cancelled that tender, citing contradiction in the land settlement plan of the area.

The privatization process restarted in October 2013, with Privatization Administration's announcement of receiving offers.

Having one of the biggest storage area in the region, the port is widely used for finished vehicle transportation.

List of country news

Country news

  • January 23, 2014

    Tender for Turkish port concession canceled due to low bids

    A tender process to concession the Derince Port for 36 years in the Turkish northwestern province of ?zmit was canceled on January 22, after bidders failed to meet the price that had been requested by the tender committee. Read more
  • February 13, 2014

    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. Read more
  • 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

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