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Important News

Noteworhty Statements by Energy Minister Albayrak

HEPP   Speeches   Natural Gas   Other Renewables

3/9/2017

"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

3/9/2017

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)

3/6/2017

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

3/6/2017

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…

An Investment Target of TL 4.5 Billion by Sabancı Holding for the Year 2017

Company News

2/27/2017

Sabancı Holding having realized the highest investment of the past five years amounting to TL 4.1 billion in 2016, aims to make an investment of TL 4.5 billion this year

Prizes for Contracting Activities Abroad Presented

Speeches   Abroad

2/23/2017

President Erdoğan: "In recent years, countries in close proximity of Turkey are in serious difficulties. Our businessmen operating in crisis regions, particularly our contractors are under the negative impact of these developments. We create new opportunities as the State for supporting you. Turkey Assets Fund will extend serious support to projects of our contractors." TMB Chairman Yenigün said, "We plan to increase our share in international contracting cake to 7% from current 4.6%, annual new project cost to USD 50 billion. But, we have a long way to go ahead.”

Ziraat Bank that Will Continue to Have Activities within the Body of Wealth Fund Management Inc., Will Provide Loans for Infrastructure Projects in 2017

Speeches

2/23/2017

Ziraat Bank’s Project Finance Group President Ayçe Şule Gürleyik, “We will be working also in 2017 to realize investments amounting to at least $ 7 billion in the same sector including the North Marmara Motorway and Çanakkale Bridge.”

Important Disclosures Made by Transportation, Maritime Affairs and Communication Minister Ahmet Arslan

Speeches   Airports

2/23/2017

“It is out of question that anybody is withdrawing in an environment where everybody is in a race to take place in the 3rd Airport Project which is a prestige project worldwide. We aim to put into service the initial phase of the project in the first quarter of 2018”…

STEAM, 17th International Energy Arena

Conferances

2/22/2017

The 17th International Energy Arena will be realized at Conrad Istanbul Bosphorus on the dates of February 23 & 24, 2017 with the theme of “Global Developments and Investment Environment”

Sabancı Holding’s New CEO is Mehmet Göçmen

Company News

2/21/2017

Head of Sabancı Holding Enerji Group Mehmet Göçmen has been appointed as the new COE of Sabancı Holding

Overseas Contracting Services Award Ceremony 2017

Reports   Abroad   Company News

2/21/2017

The Award Ceremony to be organized by the Turkish Contractors Association (TCA) will be realized in Ankara on February 22, 2017 with the participation of President of the Republic Recep Tayyip Erdoğan There are 39 Turkish contracting companies in the list disclosed by ENR for the year 2016, against a number of 40 listed in 2015

Siemens and Bombardier Have Met Companies from Bursa for High Speed Train Production in Turkey

Company News   Railways

2/20/2017

Firms based in Bursa made on-site studies at the production plants of Siemens and Bombardier in Austria within the scope of Rail Systems UR-GE Project Sales Manager of Siemens Masopust: “Bursa is accustomed to the repressive production speed of the automotive industry. The city also claims a considerable market share in the rail systems sector. A condition of 51 percent local production is being imposed in all projects in Turkey and particularly the metro tender in Istanbul. We are in need of local suppliers. We will initially make an investment of € 80 million in Turkey” Bombardier Light Rail Vehicles Department Head Pfaff: “We as Bombardier are seeking investment partners”

DHMİ, İstanbul 3rd Airport Project

Speeches   Airports   Transportation

2/3/2017

Minister of Transport, Maritime Affairs and Communication, Ahmet Arslan: "The progress of construction is 42 percent. 23 thousand workers are working around the clock. The number of workers will be 30 thousand by spring. The first runway is now completed. The terminal has started to form. We will open the first part that will serve 90 million passengers in the first half of 2018."

World Bank’s Turkey Regular Economy Information Note February 2017

Reports   Macro Indicators

2/2/2017

Turkey economy growth estimations for 2016 reduced to 2.1%, for 2017 to 2.7%. Reportedly, the deteriorated expectations for 2017 has created pressure over Turk Lira, decreased Banking Sector debt roll over rate might limit the domestic credit increase

Fitch and S&P Updated Turkey’s Credit Note

Other News   Macro Indicators

1/30/2017

S&P has affirmed Turkey’s long-term foreign credit rating at 'BB', and the credit rating in terms of local currency at ‘BB+’ and has revised its outlook for Turkey's sovereign credit rating to negative from stable. Fitch Ratings on the other hand has downgraded Turkey’s long-term foreign credit rating another step down from ‘investible’ level…

BP Energy Outlook 2017

Reports   Abroad   Company News   Natural Gas

1/27/2017

"World GDP will almost double until 2035. This growth will drive an increase in global energy demand, but with the gains in energy efficiency, energy demand will increase by only around 30%. Oil and gas, together with coal, will remain as the dominant sources of energy. Oil demand will slow with technological developments in transport. Gas will grow more quickly than oil and coal. LNG is likely to lead to a globally integrated gas market. Global coal consumption looks set to peak. Renewables will grow four times over the next 20 years"...

Important Appointments in MENR

Other News

1/27/2017

Alparslan Bayraktar is appointed Deputy Undersecretary after holding the office by proxy for some time; and Safa Uslu is appointed the General Director of Foreign Affairs and European Union after holding the office as Deputy General Director in the same unit

2nd Roads, Bridges and Tunnels Fair

Conferances

1/27/2017

2nd Roads, Tunnels 2017 (Roads, Bridges and Tunnels Fair), where the technology and equipment used in the construction of bridges, tunnels and highways will be exhibited, will be organized between May 24- 26, 2017 at Congresium, Ankara

Iran Offers Turkey a 13.3 Percent Discount for Natural Gas

Natural Gas   Natural Gas Market

1/24/2017

Hamid Rıza Iraki, the Iranian Deputy Minister of Petroleum and the General Director of NIGC, has announced that a discount of 13.3 percent would be applied to the natural gas that is exported to Turkey after the latter is awarded the international arbitration ruling against Iran. USD 1.9 billion will reportedly be paid to Turkey in damages

Prime Minister Yıldırım Announced Investment Support Program Started in 23 Provinces

Speeches   Development Plans & Goverment Programs

1/24/2017

Prime Minister Yıldırım announced at Attraction Centers Program Starting Launchement, "In 23 provinces, number of applications is 1,200, total investment cost is TL 19 billion 600 million. Consultancy services free of charge will be extended to those who make investment. Furthermore, location will be allocated for investment. The capital of the equipments, machinery to be used in the building will also be met. We will extend operation credit with low interest rate as well."

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