Important Disclosures Made by Mayor of Istanbul Kadir Topbaş (Istanbul Metropolitan Municipality - İBB)
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
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
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
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
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
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
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
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"
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
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
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%
KGM’s Kınalı-Tekirdağ-Çanakkale-Savaştepe Motorway Project
Foundation has been laid. President Erdoğan, "We will be here for inauguration of the bridge 5 years after. This bridge is number one bridge of the world." Yapı Merkezi İnşaat Executive Board Chairman Arıoğlu, "We take best engineering know-how and apply them. This may lead the way for other bridges to come along." Limak Holding Executive Board Chairman Özdemir, "this will be a project prepared by the biggest design companies of the world. We plan to complete within 4 years."
A Partnership Agreement Has Been Signed Between Unit International and SK Holding
Investor group SK Holding has acquired 30 percent shares of the energy corporation Unit International for $ 177 million…
FED Decided Interest Increase in March Meeting
US Central Bank (FED) has increased policy interest to 0.75-1.00% with 25 base point increase in March meeting
EPDK Approves the Natural Gas Transmission Network of BOTAŞ for 2017
The investment cap of the transmission network of BOTAŞ for 2017 is 592,318,000 TL...
Turkey-Russia High Level Cooperation Council Meeting
President Erdoğan, "I believe that our cooperation in the field of Akkuyu and Turkish Stream will be model for other fields of cooperation. We put forward a strong will by the agreements signed today." Russian Head of State Putin, "A new joint investment Fund to be founded on USD 1 billion capital. Turkey’s potential to be a transit country for the natural gas will further increase by Turkish Stream Natural Gas Pipeline Project."
DHMİ, İstanbul 3rd Airport Project
İGA Havalimanı İşletmesi A.Ş. chooses the Swedish company Saab for installation of the technical infrastructure of the Airport
Bombardier Signs a Framework Agreement with the Federal Railways of Austria for 300 TALENT 3 Trains
The first order was signed for 21 TALENT 3 trains under a €1.8-billion agreement. The trains will be used for regional transportation, and delivered in 2019
Negotiations in Uespect of 3. Round of Licensing of Southern Cyprus Natural Gas Sites Concluded
An agreement is reported to have been reached upon with Eni and Total Consortium for Block 6, and with Eni for Block 8 and with ExxonMobil and Qatar Petroleum for Block 8 pertaining to natural gas sites in the territorial waters of Southern Cyprus
Noteworhty Statements by Energy Minister Albayrak
"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)
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
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)
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…