Business | Markets
Turkey attracts $569m for power grid
Turkey attracted highest bids totalling $568.5 million on Thursday in two power grid sale tenderings as part of a drive to liberalise the energy sector and push the country's privatisation programme forward.
- Agencies
- Published: 23:35 September 25, 2008
Ankara: Turkey attracted highest bids totalling $568.5 million on Thursday in two power grid sale tenderings as part of a drive to liberalise the energy sector and push the country's privatisation programme forward.
Turkish group Alsim-Alarko submitted the highest bid of $440 million to operate the Meram electricity grid in central Turkey in a tendering which was broadcast live on television.
Shares in Alarko Holding were 2.2 per cent higher at 2.28 lira at 1126 GMT on Thursday. Istanbul's main index was off 0.06 per cent.
Bids
In a subsequent tendering, also televised, unlisted retail group Kiler submitted the highest bid of $128.5 million for the Aras electricity grid in eastern Turkey.
Turkey's Privatisation Administration had received seven bids for the two grids - five for Meram and two for Aras.
The two power grids, particularly the Aras grid, serve few customers and need significant infrastructure investment.
Turkey has already held tender competitions for power grids in Sakarya in northwest Turkey and in the Ankara region.
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