Turkish Finance Minister Mehmet Åžim?ek announced on Friday that the Supreme Privatization Board (ÖYK) has cancelled a $5.7 billion tender for the privatization of highways and bridges. This tender would have given the winning consortium of Koc Holding (40 %), Malaysia's UEM Gorup Berhad (40 %) and Gözde Giri?im (20%) the operating rights for the 2,000 kilometer Edirne-Istanbul-Ankara highway as well as for Istanbul's two bridges for the next 25 years.

The reason behind this decision is that the government has higher expectations for the privatization. Several funds from Middle East Gulf are believed to participate in a future tender. According to sources, Erdo?an said, "when it comes to profitability, we need to act in favor of our nation".

The Supreme Privatization Board is expected to announce their new strategy in the days to come. The board is currently considering two main options, one being to postpone a new tender and the second which would be to divide the privatization of highways and bridges into separate packages.

Project

The following assets were included in the privatization Edirne-Istanbul-Ankara highway; Pozanti-Tarsus-Mersin highway; Tarsus-Adana-Gaziantep highway; Gaziantep-Sanliurfa highway; Toprakkale-Iskenderun highway; Izmir-Cesme highway; Izmir-Aydin highway; Izmir and Ankara connecting roads; the Bosphorus Bridge; and the Fatih Sultan Mehmet (bridge and connecting road).