Turkey receives six bids for Derince Port

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Turkey receives six bids for Derince Port

Six companies have bid for the concession rights to operate Derince Port for 36 years. The port is located at the northwestern province of ?zmit.

Cengiz ?n?aat, which is also one of five companies forming the joint venture that won Istanbul's airport tender for $22 billion, Y?lport Holding, Safi Kat? Yak? Sanayi, Kumport Liman, Ceynak Lojistik ve Ticaret and British shipping and logistics firm The Peninsular, are the bidders.

The deadline for submission of bids was January 16,2014.

Although date for the auction hasn't been specified publicly, Erste Group Research said in its Turkish equity daily on Friday that the tender is expected to be held this week.

The first tender for the transfer of operating rights of Derince Port was held in 2007, in which Türkerler Joint Venture Group was the highest bidder with $US195.25 million. However, the Council of State cancelled that tender, citing contradiction in the land settlement plan of the area.

The privatization process restarted in October 2013, with Privatization Administration's announcement of receiving offers.

Having one of the biggest storage area in the region, the port is widely used for finished vehicle transportation.

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