Istanbul road, bridge tender goes to three-member consortium
Hurriyet photoA consortium of Koç, Ülker and UEM won a tender today for the privatization of Istanbul’s highways and bridges for $5.72 billion, according to Anatolia news agency.
The starting bid for the tender was $3.37 billion.
The tender commission requested $5.72 billion following Koç-Ülker-UEM's joint offer; the move was finalized when the companies agreed to the request.
The tender is the second highest privatization tender in Turkish history following a Türk Telekom tender that totaled $6.55 billion.