Turkish privatization revenues have reached a record $16.2 billion so far in 2005, according to finance minister Kemal Unakitan, with billions more dollars in revenues still to come. The figure is all the more impressive given that Turkey had collected just $8 billion from privatization in the 20 years preceding 2002, when the Justice and Development Party (AKP) took power.
In September Koc Holding won the race to buy oil refinery Tupras, paying $4.14 billion for a 51% stake in the refiner.
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