9/22/2008

Swiss Viatrans becomes partner to the Turkish consortium

Hurriyet - With a downpayment of YTL 84 million for a 40 percent share, Swiss Viatrans has become a partner in a consortium with Ascioglu Construction, signaling a vote of confidence in Turkey's investment environment. The consortium, which also includes Ofton Construction, Meydanbey Construction and Omak Construction, has bid YTL 415.75 million to Emlak Real Estate Investment Trust, or Emlak GYO, which is a subsidiary of Turkey's Mass Housing Administration, or TOKI, during the second phase of the tender for the 2.3-hectare Mecidiyeköy liqueur plant and adjacent buildings. Hayri Ozkan, vice chairman of the management board of Swiss Viatrans' Turkey branch said: “We decided Turkey carries less risk compared to that of Europe and the United States at the moment. We have found our partner here. This is just the beginning. We may yet come up with new projects”. Viatrans, which has been operating in Switzerland's Geneva city as a holding company since 1987, controls 10 companies that operate in different cities across Europe.

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