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Important News

INTES, 177th Traditional Meeting

Speeches   Conferances   Research

11/23/2017

Intes President Koloğlu: “The employment of Turkish workers abroad is not yet at desired levels. İŞKUR contracts signed with Turkish workers have to be arranged in accordance with the provisions of the international special law. Incentives for employment have to be simplified and has to be arranged in a manner to be applied for registered employers.”

2018 Budget of the Ministry of Energy and Natural Resources (MENR) is Debated at the Parliamentary Planning & Budget Commission (I)

Coal   HEPP   Speeches   Parliament   Natural Gas   General   Nuclear   Other Renewables

11/21/2017

Energy and Natural Resources Minister Albayrak, “Two more FSRU plants will be put into operation, namely at Hatay Dörtyol and Saros Bay. Coal reserves amounting to around 3.5 billion tons at Eskişehir, Afyon, Konya and the Thracian region will also be utilized in the coming period as a contribution to the economy. Significant developments have been recorded at power plants to be built at Akkuyu and Sinop while studies are underway to determine the location of a third power plant.”

Turkey-Qatar LNG Agreement

International Relations   Natural Gas

11/20/2017

First long term LNG agreement has taken effect between BOTAŞ and Qatargas. LNG, equivalent to 2 billion m3 Natural Gas planned to be exported to BOTAŞ from Qatar

Garanti Bank Signs a Loan Agreement of $ 250 Million with ICBC

Loans   Company News   Other News

11/13/2017

Garanti Bank has signed a loan agreement of US$ 250 million with ICBC with a back-payment term of 3 years with the coordination of ICBC Turkey Bank Inc. Garanti Bank Assistant General Manager Gökhan Erün: “We feel the happiness of having been in cooperation with ICBC, the largest bank in the world. It is a matter of pride for us to have undersigned a new cooperation agreement which will contribute to the economy of the country thanks to the trust and stability achieved by Garanti Bank in international finance circles.”

Cenal Enerji Çanakkale-Karabiga Thermal Power Plant Project

Coal   Thermal

11/7/2017

First unit of 1,320 MW Power Plant started to sell electricity as from November 7, 2017

2018 Budget of the Ministry of Transportation, Maritime Affairs and Communication is debated at the Planning & Budget Commission (II)

Highways   Research   Build-Operate-Transfer (BOT)   Budget

11/6/2017

Opposition MP’s (Members of the Parliament) have criticized the overflows in allocations by the Ministry and particularly KGM, Treasury guarantees given for PPP model projects resulting with long term debt burdens undertaken by the State, tenders realized with the invitation method according to article 21b, the methods to collect the debts of Türk Telekom, Turksat satellite tenders and Istanbul Airport Project

İstanbul Bosphorus Highway Tube Crossing Project (Eurasian Tunnel) (II)

Abroad   Highways   Build-Operate-Transfer (BOT)

11/2/2017

Eurasian Tunnel, connecting Asia and Europe through two storey highway tunnel on the bottom of the sea for the first time, has been awarded with the big prize in ‘IRF Global Success Prizes’ ‘Construction Mehodology Catergory by The International Road Federation-IRF'. In the prize ceremony held in Dubai, Ministry of Transportation, Maritime Affairs and Communication Infrastructure Investments Deputy Director General Şamil Kayalak, Yapı Merkezi İnşaat and Eurasian Tunnel Executive Board Chairman Başar Arıoğlu and Eurasian Tunnel Director General Sungjin Lee have participated

6th Turkish Wind Power Congress (TÜREK 2017) (I)

Conferances   Research   Other Renewables

11/1/2017

Minister of Energy Berat Albayrak: "We ranked third in Europe and seventh in the world in wind power installations last year. We will try to maintain, even surpass our place in both solar and wind power this year. YEKDEM made considerable contributions under the conditions prevalent at its time but it is outdated now. We will continue with a more competitive process with YEKA. We will continue with new and unexpected YEKAs for wind power next year."

EBRD Underlined Its Decisiveness on Investing in Turkey

Loans

10/26/2017

EBRD: “Turkey has the status of being the largest country within our operations in terms of portfolio size and investment volume. EBRD has made an investment of more than € 9.5 billion in Turkey until date.”

Mergers and Purchases in Energy Industry

General   Renewables (HEPP, Wind, Solar, Biofuel)   Other Renewables

10/26/2017

-CORRECTION- All shares of Şua Elektrik Üretim A.Ş. will be transferred to PSP Investments, Electricite de France S.A. and Polat Enerji. -Şamlı RES and Datça RES of Aksa Enerji will be transferred to Nas Enerji A.Ş...

Finance Minister Ağbal Presented the 2018 Central Administration Budget to the Parliamentary Planning & Budget Commission

Parliament   Budget

10/25/2017

Minister Ağbal, “Global economy that grew by 3.6 percent in 2017 is expected to grow by 3.7 percent in 2018. The Turkish economy grew by 6.6 percent on the average during the period of 2010-2017. The finalized central administration budget expenditures in 2016 are TL 584.1 billion with a budget deficit of TL 29.9 billion. We expect the central administration budget expenditures in 2017 to be as TL 673.7 billion with a budget deficit of TL 61.7 billion. As for 2018, the central administration budget to be realized as TL 762.8 billion in 2018 is expected to give a deficit of TL 65.9 billion. TL 183.1 billion has been assigned for personnel expenditures from the 2018 budget, TL 299.4 billion for current account transfers, TL 71.7 billion for interest payments, TL 68.8 billion for investments, and TL 66.1 billion for the procurement of commodities and services."

World Bank’s Country Director for Turkey Zutt: “We Will Revise the Growth Estimate for Turkey as 5 or 5.1 Percent”

Speeches

10/18/2017

“I think the biggest challenge for Turkey in the medium run is to enhance the productivity of Turkish companies. The technology used in products sold to Europe by Turkey should be elevated The most significant fragility of Turkey is its dependence on foreign capital flow to finance the current account deficit. The fact that there is a big difference between savings and investments in Turkey is another risk with future prospects.”

Short Term Foreign Debt Stock Reached USD 111.6 Billion As of End August

Macro Indicators

10/16/2017

Short term debt of public sector, major part of which is public banks, increased 9.3% to reach USD 17.8 billion compared to end-2016, private sector short term foreign debts increased 14.8% to be USD 93.7 billion

6. Turkey Public-Private Sector Partnerships Forum 2017

Conferances   Research   Build-Operate-Transfer (BOT)

10/12/2017

Forum will be held on 29-30 November 2017 at Movenpick Hotel Ankara. In the forum, of which TEBANEWS is the media partner, Current Status of PPP model Health and Transportation Projects, Risk Management in PPP projects, Building PPP Legislation in Turkey, Developments in new PPP Projects by the Government, Advantages of PPP Model in Waste and Water Management, how and where the financing secured from Export Credit Agencies and International Financing Agencies will be used for Making PPP Projects more bankable and Health Facilities Operational Management and PPP Projects will be discussed

IFC Granted $100 million Loan to TÜPRAŞ for New Investments Concerning Environmental Upgrades and Efficiency

Loans   Petrochemical   Company News

10/4/2017

TÜPRAŞ CFO Doğan Korkmaz: "With additional sulfur recovery units we will be ready to support maritime industry in their efforts to change into low sulfur marine fuel" Carsten Muller, IFC Director of Manufacturing, Agribusiness and Services in Europe, Middle East and North Africa: "This financing will allow TÜPRAŞ to boost its existing modernization and invest in R&D to move up the value chain, while adopting high environmental standards"

In September, Annual Inflation has been 11.20%

Macro Indicators

10/3/2017

Annual increase in CPI has been 11.20%, in domestic producer prices 16.28%

STEAM, 18. International Energy Conference

Conferances   Natural Gas

10/2/2017

18. International Energy Conference will be held on October 4, 2017 at İstanbul Sait Halim Paşa Palace on "Changing Energy Geopolicy, Unchanged Pipeline Routes“ Oil and Natural Gas Play – Current Status of Turkey Europe Axis.”

Emre Hatem, Senior Vice President at Garanti Bank Project Finance and Sustainability: “We Can Take Part in Financing BOT Model and YEKA Projects”

Company News   Build-Operate-Transfer (BOT)   Renewables (HEPP, Wind, Solar, Biofuel)   Other Renewables

10/2/2017

“The capital structure of Turkish banks is strong; there is liquidity. We are also financing from abroad but the main resource in financing projects is still the deposit money. Our resources are limited but investment needs are at high levels We are talking of a project size of at least $ 100 billion in a period of 5-6 years. Our priorities as Garanti Bank are BOT model motorway projects, renewable energy projects and PPP model hospital projects. There has been intensive investment in the energy sector also with the support of banks and now there is an over-capacity New energy investments may be necessarily commissioned in around 2021 and 2022. Turkey does not need new basic load power plants for a period of 8-10 years. Adequate supply may be provided by means of investments in new solar and wind power plants only.”

Alstom and Siemens Creates a New European Champion

Abroad   Company News   Railways

9/29/2017

Henri Poupart-Lafarge, Chairman and Chief Executive Officer of Alstom SA: "Thanks to its global reach across all continents, its scale, its technological know-how and its unique positioning on digital transportation, the combination of Alstom and Siemens Mobility will bring to its customers and ultimately to all citizens smarter and more efficient systems to meet mobility challenges of cities and countries." Joe Kaeser, President and CEO of Siemens AG: " We put the European idea to work and together with our friends at Alstom, we are creating a new European champion in the rail industry for the long term. "

Deputy Prime Minister Şimşek Disclosed the 3-Year Medium Term Program (MTP) Foresights

Speeches   Macro Indicators   Development Plans & Goverment Programs

9/27/2017

“The main targets of the MTP are listed as acceleration in the growth rate, an increase in the employment rate and the betterment of income distribution. We are decisive to sustain the fiscal discipline also in the coming period. We are targeting an annual growth rate of 5.5 percent between 2017 and 2020. We estimate that the unemployment rate will be 10.8 percent this year, 10.5 percent next year, 9.9 percent in 2019 and 9.6 percent in 2020. The Current Account Deficit / GDP ratio is estimated to be 4.6 percent this year, 4.3 percent next year, 4.1 percent in 2019 and 3.9 percent in 2020. We foresee an inflation rate of 9.5 percent at the end of the current year.”

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