3/24/2008

Strategy report ready for bridge, highway privatization

Today's Zaman - Turkish Industry and Development Bank (TSKB) General Director Halil Eroglu, elected advisor for the privatization of bridges and highways by the Privatization Administration (OIB), has said that the strategy report for the privatization of bridges and highways is complete. Eroglu, in an interview with the Anatolia news agency, said yesterday that the OIB is currently reviewing the report. “The bidding process is expected to start in May. Certain laws need to be amended for the privatization of highways and bridges... After these amendments are approved and made by Parliament, the bidding process will kick off,” he said. The privatization package consists of handing out the operation rights of two bridges, namely the Bosporus and the Fatih Sultan Mehmet bridges in Istanbul, and six highways to private companies for 20 to 25 years. The income from the privatization of these bridges and highways is expected to reach $5-6 billion. “Not only companies from Europe but also those from Asia and Australia are interested in the privatization process. I believe that foreign companies will take their place in the bidding process in addition to domestic ones” he noted.

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