Turkey (106)

"The changes that Turkey went through following 2000, including the economic decisions that were made, are an important step. The reforms made in 2000 allowed Turkey to make great strides, despite the fact that it came at the top of the list of countries with high inflation and high interest rates. Powerfull businessmen from Turkey share their experiences and plans."

Turkey JV Hires Manager for Refinery Construction

ImageState Oil Co. of Azerbaijan Republic (SOCAR) and TURCAS Rafineri AS (STRAS) has awarded Fluor Corp. a project management consultancy for a refinery to be built in Aliaga, Turkey. TURCAS is a joint venture of SOCAR and Petrol AS. The planned refinery will be integrated into the Petkim petrochemicals complex on the Aegean coast.

Fluor will act as PMC for the SOCAR and TURCAS Aegean Refinery (STAR) project and will assist STRAS in selecting and managing the engineering, procurement, and construction contractor and provide overall project and construction management.

TurkPower Corporation Announces Significant New Coal Power Plant Mandate

ImageNew York, NY- TurkPower Corporation (OTCBB: TRKP) (the "Company") announced that is has signed a consulting and sell mandate with the owner of a lignite fired thermal power plant project, to consult in the development, construction and financing of its 500MW capacity lignite thermal power plant ("TPP") project in Konya, Turkey. The TPP project comes including a lignite mine which is dedicated exclusively as the fuel source for the project. The economical lignite reserves are calculated to be 152,000,000 million metric tons and can supply the TPP for up to 42 years; life cycle of the TPP is 30 years. The mine shows an average lignite thickness of 12 meters and the licensed mining area is 1,852 acres and the license is valid for 42 years. Site exploration studies for a bankable mining plan were conducted by North American Coal Corporation. Total investment necessary to fund the project is approximately $1.26 billion, of which 30% is to be in the form of equity.

French firm acquires Turkey's Multinet for $90 million

ImageGroupe Cheque Dejeuner has said it purchased Turkish meal ticket provider Multinet from businessman Hayyam Garipoğlu. The transaction, announced at a press conference in Istanbul, is worth $90 million. Cheque Dejeuner ranks among the top three meal card providers in the world, alongside Sodexho and Edenred. Multinet, which was seized by the Savings Deposit and Insurance Fund, or SDIF, in July last year, was handed back to original owner Garipoğlu in accordance with a protocol dated April 9 of this year, the Daily News has learned.

Sabanci Goes for Energy

Guler Sabanci, chairperson of Sabanci Holding, one of Turkey’s largest conglomerates, is betting on energy. The bulk of the diversified group’s $1.5bn investments this year will be in electricity as the company tries to take advantage of “the serious transformation of Turkey’s energy sector,” Sabanci explains in an interview in FT’s special report on Turkey published on December 7th, 2010. The conglomerate, which now has half of its consolidated revenues in financial services, aims to seize a 10 per cent share of the fast-growing power market by 2015 through the jointly-owned generator and distributor Enerjisa. 

UBM Acquires Turkish Trade Fairs & Media Company

ImageHong Kong based trade fair organizer United Business Media (UBM) announced that it has agreed to acquire a 65% stake in Rotaforte International Trade Fairs & Media, the owner of the Istanbul Jewelry Show. Financial terms of the deal were not disclosed. The announcement follows UBM’s pending $289 million acquisition of Canon Communications in the U.S.

Crown to Expand Presence in Turkey

ImageCrown Holdings, Inc. (NYSE: CCK), a leading supplier of metal packaging products worldwide, announced today a major expansion of its beverage can production capacity in Turkey. The investment plan includes increasing capacity at the Company's existing two-line facility in Izmit, near Istanbul, and the construction of a new manufacturing plant in the Osmaniye region, in south-central Turkey.

Turkish Reforms, A Wake-Up Call for Israel

Mehmet Celebi
By Mehmet Celebi
- On September 12, more than 20 million Turks voted a resounding “Yes,” and thus endorsed a constitutional amendment package that could open wider the door to democratization in the Middle East.

Turkey’s  landslide referendum outcome —which will enhance civil liberties and individual rights—was watched closely by hundreds of millions of Muslims around the world, and serves as yet another opportunity for the country to show leadership in the region. As a prominent Arab scholar told me recently “If Turkey fails, what alternative is there for the Muslim and Arab world?”

President Bill Clinton to Speak at Istanbul Bilgi University

Imageİstanbul, Turkey - September 29, 2010 - İstanbul Bilgi University will host a speech by President Bill Clinton, the honorary chancellor of Laureate International Universities, on October 2, 2010. President Clinton will speak to 500 guests, including Bilgi students, alumni and faculty as well as Turkey’s leaders in education, government and business.

Armenian businessman Plan to Build A Hotel in Van

Chairman of Chamber of Commerce and Industry of Van Zahir Qandashoglu told Turkish “Dunya” paper that the number of people to visit Holy Cross of Van on 19 September has grown. The chairman of the chamber told the paper that after that event an Armenian businessman plans to invest about $50 million to build five-star hotel in Van.

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