Monday, May 12, 2008

Privatisation body approves transfer of power plants to Zorlu.

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Privatisation body approves transfer of power plants to Zorlu. The privatisation high board approved the transfer of Tercan, Kuzgun, Mercan, Ikizdere, Cildir, Beykoy, Atakoy hydroelectricity power plants, Denizli geothermal power, and Engil gas turbines to Zorlu Group’s energy unit Zorlu Enerji. In the concession tender held in early March, Zorlu Enerji had offered USD 510mn to operate Tercan, Kuzgun, Mercan, Ikizdere, Cildir, Beykoy, Atakoy hydroelectricity power plants and Denizli geothermal power plant for a period of 30 years and to buy out Engil gas turbines. According to the high board’s decision published on the official gazette, if Zorlu refuses to sign related agreements and fulfil its obligations stemming from tender conditions, the said power plants will be transferred to the second high bidder Askala Cimento. Cement maker Askale had offered USD 506mn for the entities in the concession tender.

Securitisation is not dead

Selling short

Privatisation body approves transfer of power plants to Zorlu.

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