9/2/2016
Tekfen İnşaat Signed Goodwill Protocols for Two New Contracts, One of Them is in Saudia Arabia
Tekfen İnşaat will undertake the construction of a 333 km gas and jet fuel pipeline in Saudi Arabia, in return for a price of USD 299,312,000. In addition, the company will perform the electromagnetic works of “Coker Unit” of the Star Refinery which is being under construction in Aliağa-İzmir, on the basis of unit price
It has been reported that Tekfen İnşaat, one of the giant contracting companies of Turkey, is signing two goodwill protocols for two new contracts, one of them is in Saudi Arabia and the other one in Turkey. The public disclosure made by Tekfen on the Public Disclosure Platform pointed out that Tekfen İnşaat signed goodwill protocols by which it undertook to perform the electromagnetic works of the “Coker Unit” of the Star Refinery which is under construction in Aliağa- İzmir on the basis unit price, and construction of a pipeline in Saudi Arabia, for a price of USD 299.3 million. The statement says: "Tekfen İnşaat ve Tesisat A.Ş. (Tekfen Construction and Installation Co. Inc), which is one of our affiliate companies, signed a goodwill protocol for the construction of a 20'' gas and 24'' jet fuel pipeline, with a length of 333 km, between Yanbu and Cidde with Aramco which is the investor of the Project, for a price of USD 299,312,000 in total. The completion duration of the project was set as 47 months. In addition, a Goodwill Protocol was signed by our affiliate company with Contracting Company TSGI JV, for the performance of the electro-magnetic works of the “Coker Unit” of the Star Refinery under construction in Aliağa- İzmir, on unit price basis. The contract price will be determined upon the completion of the negotiations on the bill of quantities and articles of the contract. The negotiations are planned to be completed very soon. The completion period of the project is 17 months. The concerned public disclosures will be made as soon as the final contracts of the project are signed. As known, the latest news on Tekfen İnşaat was that it signed a preliminary contract amounting to USD 2.1 billion for the road construction work of Katar' Al-Khor Expressway TEBA:1779/ August 23, 2016. Tekfen also assumed the commitment of construction of the section “509 km road between Eskişehir-Sivas” under TANAP (Trans Anatolian Natural Gas Pipeline Project), which is the largest ongoing project in Turkey TEBA:1704/ March 9, 2015 and the turn-key construction of 2 main compressor stations in Georgia and Eskişehir TEBA:1753/ February 17, 2016.
Annual Report
