5/2/2008

Two more state-owned electricity grids for sale

Today's Zaman - The state-owned Meram and Aras electricity distribution corporations are to be privatized, with its shares will be sold as a block, Turkey's Privatization Administration (OIB) announced yesterday in the Official Gazette. The eventual buyer must provide $10 million as collateral to purchase the Meram Electricity Distribution Corp. shares. The corporation serves Kirsehir, Nevsehir, Nigde, Aksaray, Konya and Karaman. For the shares of the Aras Electricity Distribution Corp., which serves Erzurum, Agri, Ardahan, Bayburt, Erzincan, Igdir and Kars, the figure is $5 million. Potential buyers will have to apply to the OIB by 4 p.m. on May 26 and present their offers by July 15. Related materials and documents listing the contract terms for the corporations' sales will be available from May 5 at the OIB.