Important News

Important Disclosures Made by Mayor of Istanbul Kadir Topbaş (Istanbul Metropolitan Municipality - İBB)

Transportation   Metro Projects


Mayor of Istanbul Kadir Topbaş (Istanbul Metropolitan Municipality) said that the tendering procedures for the new metro lines in Istanbul have been finalized and works will be started for the lines in question at the soonest

Important Statements by Deputy Prime Minister Mehmet Şimşek



"The outlook in Turkey is not as bleak as it appears from outside but it is not as positive as we desire, either. The result of the referendum is positive in terms of stability. However, there will be structural reforms to drive growth. I think 3 percent growth is only average for us. We will return to a growth trend of 5-6 percent. We believe that we can do it."

GE Purchased the Danish Wind Turbine Blade Manufacturer LM Wind Power

Abroad   Company News   Other Renewables


GE signed the agreement to purchase the Danish LM Wind Power company for Euro 1.5 billion (USD 1.65 billion) in October 2016

Yapı Merkezi Group Starts Building the Tanzania High-Speed Train Line in East Africa

Abroad   Company News


Tanzania President Dr. John Pompe Joseph Magufuli, Tanzania Minister of Labor, Transport and Communication Makame M. Mibarawa, Yapı Merkezi Deputy Chairman Erdem Arıoğlu, Turkey's Ambassador to Dar es Salaam Yasemin Eralp, and Yapı Merkezi Board Member Emre Aykar attended the groundbreaking ceremony of High Speed Train Line Project in Pugu, Dar es Salaam on April 12

Kolin Group’s Etki Seaport Enterprises, FSRU Project

Company News   Natural Gas


Siemens Turkey has realized the design, manufacturing and the commissioning of Automation, Electrification, Fire and Gas Warning Systems, Integrated Telecom and Safety Systems of the first floating LNG terminal of Turkey

Important Statements by Berat Albayrak, the Minister of Energy and Natural Resources

Speeches   Natural Gas   Other Renewables


The specifications for Wind YEKA will be submitted to the Official Gazette today. The contest will be held by the end of July, 27 July if I remember right. Our second offshore exploration vessel (MTA Oruç Reis) will be leaving for the Mediterranean Sea next week, and we will start the process by then."

İstanbul Metropolitan Municipality's Üsküdar-Ümraniye-Çekmeköy Metro Project

Turnkey    Metro Projects


Test runs started on the line assumed by Doğuş İnşaat and vehicles of which were supplied by Mitsubishi Corp. Line planned to be commissioned on 30 August will be the first line with “platform door” system beside to be the first unpiloted metro

Turkish Stream Project

Natural Gas   Intergovernmental


The Circular Note of the Prime Ministry has been published for the finalization of implementations and procedures to be executed by public offices and institutions within the scope of the project, and for the fulfillment of liabilities undertaken by the Turkish Government in due time and in an efficient manner

The Turkish Economy Grew by 2.9 Percent in 2016

Macro Indicators


Gross Domestic Product (GDP) displayed a growth rate of 3.4 percent in the 4th quarter of 2016 compared to the same quarter of the previous year. GDP growing by 2.9 percent in 2016 compared to the previous year reached TL 2 trillion 590 billion 517 million Finance Minister Ağbal: “Domestic demand which is the driving power of the economy accelerated in the last quarter and private consumption expenditures increased by 5.7 percent. The fact that investments increased by 2 percent in the given period has utmost importance for the economic outlook. Public expenditures have also continued to make a positive contribution to economic growth.”

SK E&C Director General Ahn, "We Are More Than Ready to Invest More Money to Turkey"

Speeches   Company News


SK E&C Director General Jason Jaehyun Ahn, "Geopolitical situation, investment incentives, demographic composition and facilitating policies still attract many foreign investors. Turkey market is an investable one and we are ready yo invest more money. Very soon, you will see our company in Turkey energy market. We are particularly interested in natural gas fired power plants."

IFC Organizes a Funding Workshop for Municipalities

Conferances   Research   Build-Operate-Transfer (BOT)


Hakkı Karataş, the Treasury Undersecretariat Acting Deputy General Director of Public Funding: "The Undersecretariat of Treasury may offer external funding to municipalities by offering loans for the external debt and credit mechanisms with Treasury repayment guarantee." Aisha Williams, the Director of IFC Turkey: "Turkish cities are among the world's fastest growing and developing cities. We believe that public and private sectors must cooperate to fulfill the needs of these cities."

Unemployment Ratio Reached 10.9% in 2016

Macro Indicators


In the OVP, unemployment ratio was targeted to be 10.5% in 2016. Male unemployment ratio was calculated to be 9.6%, female unemployment ratio to be 13.7%. Unemployment ratio among youngsters of 15-24 age group is 19.6%, however, of 15-64 age group this ratio reached 11.1%

Noteworhty Statements by Energy Minister Albayrak

HEPP   Speeches   Natural Gas   Other Renewables


"Turkey's priority in the fields of energy is to diversify the sources of natural gas, electricity, nuclear and renewable energy. In mid-Summer, 1,000 MW wind energy projects will be announced. In next 10 years, we target to reach minimum 10.000 MW kapasity in renewable energy projects based on solar and wind. We will starts significant initiatives in exploration and drillings this year,principally in the Black Sea and Mediterranean."

Making Use of Renewable Energy Source Areas (YEKA) Project (I)

Company News   Renewables (HEPP, Wind, Solar, Biofuel)   Other Renewables


Borusan EnBW Enerji, GE, Fina Enerji and Özgül Holding have signed memorandum of understanding for Renewable Energy Source Area (YEKA) competitions to be arranged for wind investments

Petrol Ofisi Sold on 1.368 Million Euro to Vitol Group

Company News   Petroleum (Oil)


Austria based energy company OMV has decided to sell Petrol Ofisi (of which 100% shares owned) to Vitol Group of Holland on 1,368 million Euro. Subject sale and transfer processes planned to be concluded in the third quarter of year

Eurasia Rail 2017 (II)

Conferances   Company News   Metro Projects


According to disclosures made during Eurasia Rail, there will be a need of 7,000 rail transport vehicles for inner-city transport in Turkey until 2023 including vehicles to be renewed such as metro, LRT, tramcars, tram-busses and commuter vehicles – 100 percent Turkish made metro vehicles produced in the company’s factory in Ankara will be started to be operated in Bangkok, Thailand in 2018 within the scope of the procurement project of 22 metro vehicles executed with the partnership of Siemens and Bozankaya…

Annual Report