Important News

İstanbul New 3. Airport Project

Airports   Build-Operate-Transfer (BOT)


Physical realization ratio reached 40% for completion of 1. Stage investment, as 5 months left for the construction to be completed. İGA Manager Akçayoğlu, "As of September 2016, VAT included € 2.4 billion was spent for the first stage of the construction. When we inaugurated the first terminal building, daily 2000 airplanes will land and take off."

Siemens Turkey's Transportation Unit Head Cüneyt Genç: “Investments are Continued without Cutting Speed”

Company News   Machinery Equipment


“6 high speed train sets specially designed for Turkey will be started to be operated on Turkey’s lines within the current year. We closely follow the investment programs in the sector, we have provided considerable resources in the field of high speed trains in Turkey and we are closely interested in new tenders.”

Moody’s Downgraded the Credit Note of Turkey Below of the Level of Suitable for Investment

Loans   International Relations


Note reduction expected to lead to consequences like the devaluation of TL, exit of foreign investor from Turkey, outflow of hot money, increasing the cost of financing Deputy Prime Minister Mehmet Şimşek, “Best response to rating agencies is to further accelerate the structural reforms, to maintain the fiscal discipline. Never stop, continue with the reforms.” Denizbank Director General Hakan Ateş, "Turkey has shown her strength by keeping the macroeconomical indicators of the economy strong at such a global environment." TEB Director General Ümit Leblebici, "The foreign borrowing cost of the banks will increase 0.25-0.50 points. Foreign investors never take the credit note as the basis only."

Bombardier Transportation Plans to Invest Around $ 100 Million in Turkey

Company News   Railways   Metro Projects


Furio Rossi, the Managing Director of Bombardier Transportation in Turkey made disclosures on Turkey’s potential in the rail system field during the Trade Fair and said that they are ready to provide all kinds of infrastructure in the best manner as Bombardier Transportation, to cover Turkey’s needs in the technology transfer process in the field

Iron & Steel Fair is in Istanbul

Conferances   Iron&Steel


Ankiros International Iron - Steel & Foundry Technology, Machinery and Products Trade Fair will be held in Istanbul between the dates of September 29 and October 1, 2016 at TÜYAP Fair Convention and Congress Center…

IMF,Global Prospects and Policy Challenges Report Before the G20 Summit



IMF Managing Director Lagarde: " 2016 will be the fifth consecutive year with global GDP growth below its long-term average of 3.7 percent (1990-2007), and 2017 may well be the sixth (Chart 1). Not since the early 1990s has the world economy been so weak for such a long time"...

Tekfen İnşaat Signed Goodwill Protocols for Two New Contracts, One of Them is in Saudia Arabia

Company News


Tekfen İnşaat will undertake the construction of a 333 km gas and jet fuel pipeline in Saudi Arabia, in return for a price of USD 299,312,000. In addition, the company will perform the electromagnetic works of “Coker Unit” of the Star Refinery which is being under construction in Aliağa-İzmir, on the basis of unit price

Turkish Stream Project

Natural Gas   Intergovernmental


Energy Minister Berat Albayrak has met Gazprom’s Chairman of the Board Aleksey Miller. It is stated in the disclosure made by Gazprom after the meeting that agreement has been reached to grant all necessary permits at the soonest to give start for the implementation of the project. Technical and commercial talks will be continued between BOTAŞ and Gazprom on related conditions regarding the supply of gas to Turkey…

Turkish Contractors Association (TMB), Construction Sector Analysis for August 2016

Housing   Reports


"House sales in June decreased by 4% compared to the same month of the previous year. Turkey is one of the countries where house prices have increased and the price/income gap has widened the most. Prices of projects that have been recently undertaken in contracting abroad is considerably below the project values of the same periods in previous years. Normalization of relations with Russia is essential for the sector."

Construction Works Have Been Started for the 1800 MW Bahrain ALBA Natural Gas Combined Cycle Power Plant Undertaken by Gama Güç Sistemleri (Gama Power Systems) – GE Consortium

Abroad   Company News


Alper Ercan, Deputy Managing Director at Gama Power Systems, Business Development & Contracts: “GE will supply the gas and steam turbines besides the exhaust heat boilers, and Gama Güç Sistemleri (Gama Power Systems) has undertaken the procurement, engineering and construction (EPC) works for all other equipment. Around 70 percent of works will be financed by loans. We have presented a loan package from international banks as a consortium in the tender with loan conditions, and we give a hand to the employer in securing loans. Works for the power plant are started in August which is being financed by own resources until loans are secured. The first unit is planned to be put into operation at the end of 2018. It will be the first power plant in the Middle East which features an H-Class gas turbine with high efficiency”…

Tekfen İnşaat Signs a Preliminary Contract of $ 2.1 Billion for the Construction Works of Qatar Al-Khor Expressway

Abroad   Highways   Company News


Tekfen Holding signed the preliminary contract for the 34 km motorway project in the city of Al-Khor with a ceremony participated by Transportation, Maritime Affairs and Communication Minister Ahmet Arslan and Municipality and Environment Minister Mohammed Bin Abdullah Al-Rumaihi of Qatar Government Transportation Minister Arslan: “Turkish contractors have a business volume of $ 15 billion in Qatar. 119-120 Turkish companies have activities in Qatar. Turkish companies can display the experience and know-how accumulated through the infrastructure investments in Turkey, in projects within the 2030 targets of Qatar. Turkish companies can also stipulate contracts in engineering, consultancy and security services and not only in the construction sector.”

International Organizations Commented on Turkey’s Economy

Abroad   International Relations   Macro Indicators


Fitch: "Turkey’s economy is still ‘investable’ but the note seems to be ‘negative’.” Japanese Credit Organisation JCR: "Central Bank’s recent lenition on the money policies creates additional risks for inflation. In the case the policy lenitions continue we expect TRY to face the risk of rapid loss of value for the rest of the year."

Eastern Mediterranean Energy Resources is The Agenda of 7th Energy Summit in Turkey

Coal   HEPP   Conferances   Natural Gas   Other Renewables


The Summit will be held on November 23-26, 2016. The latest developments in the energy industry, energy resources of the Eastern Mediterranean will be discussed in all aspects...

Important Disclosures Made by IC Holding’s Chairman of the Board İbrahim Çeçen on Yavuz Sultan Selim Bridge

Speeches   Highways   Build-Operate-Transfer (BOT)   Metro Projects


IC Holding’s Chairman of the Board İbrahim Çeçen: “I have performed quite a number of construction works in my occupational life of 47 years, but this is a work which elevates my career. Yavuz Sultan Selim Bridge is a wonder of engineering and architecture. We consider earning money to be of secondary importance. The toll on the bridge is less expensive compared to motorways and bridges in Europe.”

Akbank Secures a Syndicated Loan of US$ 1.2 Billion

Loans   Company News   International Relations


Akbank CEO, Hakan Binbaşgil: "There are banks with increasing participation compared to last year in this syndication secured under very favorable conditions. Furthermore, we have been able to ensure the participation of new banks from the Middle East and Europe in this syndication. The appetite of international investors in Turkish market continues. The fact that the financing we have obtained from international markets over the past two months is a significant indicator of such interest."

Polat Enerji, Will Invest USD 1 Billion in Wind Energy

Company News   Other Renewables


Polat Holding Board of Directors Chair Adnan Polat stated that they will be investing USD 1 billion in Wind Energy with their energy sector partners EDF and PSP Investments and added that "If the political will gives us the means, we will have completed USD 3.5 billion investment until 2023.”

Bombardier Transportation Wins a New Order for 125 BiLevel Commuter Rail Cars

Abroad   Company News   Railways


125 next-generation BOMBARDIER BiLevel commuter rail cars are for Toronto. This order is valued at $328 million. Production is scheduled to start in Q2, 2018 and final delivery is expected in Q1, 2020.

President Erdoğan Addressed International Investors At High Level Economy Meeting



"All international investors walked with us for 14 years have won for sure and will continue to win from now on as well. If you face with difficulty in Public, please inform the related unit immediately, we will put them out of the entity right away. Our agenda is not only focused on coup d’etat or terroris organizations operations. Yavuz Sultan Selim Bridge is on our agenda. We have Avrasya Tunnel to be inaugurated. We have 1915 Çanakkale Bridge to work on. We have Canal İstanbul Project that we intended to realize for sure." "I ask you a favor, please come and involve in defense industry. We are producing unmanned aerial vehicle. We will produce aircraft, missiles."

In Natural Gas Distribution Sector, TL 1 Billion Investment Targeted

Speeches   Natural Gas


Turkey Natural Gas Distributors Union Association (GAZBİR) Chairman Yaşar Arslan, "2016 network investments continue as planned. We targeted to make over TL 1 billion investment in the sector. Until 2022, investment will reach TL 6 billion."

GAMA Enerji's Kırıkkale Thermal Power Plant Project

Thermal   Company News   Natural Gas


Acceptance process has been completed by the Ministry of steam turbine, final 280 MW part of the power plant and put into service. 840 MW Power Plant will entirely start generation in the days ahead

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