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SALE OF ANKARA GAS GRID CANCELLED
ANKARA - Turkish privatization authority, or OIB, cancelled on Tuesday the sale of Ankara natural gas network. OIB will hold a new tender this autumn.
10.05.2011 - Update : 10.05.2011
OIB cancelled the sale as the winner of the bidding, a Turkish joint venture of Karamehmet and Kazanci, did not pay 1.2 billion USD until Monday, the payment deadline.
Last year in August, private venture MMEKA of Karamehmet and Kazanci offered the top bid of 1.2 billion USD for an 80 percent stake in Baskent Dogalgaz, Turkey's second largest natural gas distribution grid. The company, operating a grid of 8,300 kilometers, distributes more than 2 billion cubic metres of gas to 1.2 million homes every year.
OIB's acting chairman Ahmet Aksu said that the privatization authority would make preparations for a new tender and revise the specifications.
OIB plans to hold the new tender this autumn, Aksu told the AA.
Last year, MMEKA also submitted highest bids in two auctions to privatize Istanbul's Bogazici Elektrik Dagitim, Turkey's largest power grid, and Istanbul Anadolu Yakasi Elektrik Dagitim, another power grid on the Anatolian side of Istanbul.
MMEKA offered 2.99 billion USD for Bogazici and 1.8 billion USD for Istanbul Anadolu Yakasi power grid.
Analysts said eyes are now on MMEKA for the payment deadline of these two auctions. The deadline is May 31.
Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.
Last year in August, private venture MMEKA of Karamehmet and Kazanci offered the top bid of 1.2 billion USD for an 80 percent stake in Baskent Dogalgaz, Turkey's second largest natural gas distribution grid. The company, operating a grid of 8,300 kilometers, distributes more than 2 billion cubic metres of gas to 1.2 million homes every year.
OIB's acting chairman Ahmet Aksu said that the privatization authority would make preparations for a new tender and revise the specifications.
OIB plans to hold the new tender this autumn, Aksu told the AA.
Last year, MMEKA also submitted highest bids in two auctions to privatize Istanbul's Bogazici Elektrik Dagitim, Turkey's largest power grid, and Istanbul Anadolu Yakasi Elektrik Dagitim, another power grid on the Anatolian side of Istanbul.
MMEKA offered 2.99 billion USD for Bogazici and 1.8 billion USD for Istanbul Anadolu Yakasi power grid.
Analysts said eyes are now on MMEKA for the payment deadline of these two auctions. The deadline is May 31.
Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.
