Turkey to privatize natural gas grid of capital by year end

Turkish government plans to open a new tender to privatize Baskent natural gas grid in the capital city of Ankara by the end of this year, energy minister said.

Turkey to privatize natural gas grid of capital by year end

Turkish government plans to open a new tender to privatize Baskent natural gas grid in the capital city of Ankara by the end of this year, Energy and Natural Resources Minister Taner Yildiz said on Tuesday.

The Supreme Board of Privatization has authorized the Privatization Administration Board to sell 80 percent of Ankara's gas distributor company.

Yildiz said the board would go out to tender in almost two months.

"We will finish the process by the end of this year," Yildiz said.

In an auction in March 2008, Global Energaz offered 1.61 billion USD, the highest bid for the privatization of Baskent Dogalgaz Dagitim.

Elektromed A.S. submitted the second highest bid, and Calik Holding made the third highest offer in the auction.

Turkey's Competition Board approved in July 2008 the privatization of the company.

After some legal problems occurred during block sale of Baskent Dogalgaz to Global Yatirim Holding, the auction was awarded to the runner-up Elektromed, however, Ankara Municipality cancelled the tender.

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Last Mod: 30 Eylül 2009, 13:40
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