Turkey To Earn 755 M USD From Mersin Port Privatization

ANKARA - Treasury will earn a total of 755 million USD from the privatization of the Mediterranean port of Mersin, sources said on Monday.
The Privatization Administration Board (OIB) is expected to sign an agreement to transfer the port to PSA-Akfen OGG consortium on May 11th (Friday), the same sources told A.A correspondent.
The payment will be made cash, they added.

-TENDER PROCESS-
A tender was held on June 9th, 2005 to privatize Mersin port, which was belonging to Turkish State Railways Administration (TCDD). According to an agreement signed then, the management of the port is to be transferred to the winner company/consortium for 36 years.
PSA-Akfen OGG offered 755 million USD for the port, and won the tender in August 2005.
The Supreme Board of Privatization approved the deal on November 7th, 2005, and a contract was initialled between the purchasing company and the OIB.

-IZMIR PORT TENDER-
On the other hand, Global-Hutchison-EIB consortium which offered the highest price of 1.2 billion USD, has won the tender on the management rights of the Izmir port for a period of 49 years.
This port also belonged to the TCDD.
The Global-Hutchison-EIB consortium is also expected to pay cash the privatization money.