Turkey’s privatization board (ÖİB) has revealed a new agenda for the tenders for three electricity grids in a bid to finalize a problematic process.
Companies should apply to qualify to enter the tender for the Akdeniz grid in the Mediterranean region by September 21. The deadlines for Istanbul’s Boğazici grid and the Aegean region’s Gediz grid are September 28 and October 5, respectively. The closed-envelop tenders will take place in November, and a bargaining procedure will also take place if the board considers it necessary.
Turkey started the privatization process of power grids in 2010 but could not achieve it due to the financing hardships of the interested companies. MMEKA, a joint venture of businessmen Mehmet Emin Karamehmet and Mehmet Kazancı, had won the initial tender for Boğaziçi in 2010 with an offer of $2.99 bn, but failed to perform its duties on time, forfeiting a $55m warranty payment. As well, Aksa and Park, the holders of the second and third highest bids also could not manage to finalize the procedure, and so lost $20m each in warranty payments.
The new bids were set as $30m for the Boğaziçi grid, $23m for Gediz and $15m for Akdeniz.