Malaysia firm seeks large toll road share
Malaysian contractor UEM Group Berhad has officially joined Koç and Gözde in the privatization bid for toll roads and two Bosphorus bridges.Malaysian contractor UEM Group Berhad has officially joined Koç and Gözde, two large Turkish companies, in a united effort to win a large Turkish privatization bid for 2,000 kilometers of toll roads, which includes two bridges over Istanbul’s Bosphorus.
Gözde clarified the structure of the partnership in a filing to Istanbul Stock Exchange (İMKB) yesterday, saying that it would have a 20 percent stake in the joint venture, with Koç and UEM Group each having a 40 percent stake.
UEM Group Berhad was mentioned in the venture’s application for the tender in early September.
Koç is one of the two largest conglomerates in the country, while Gözde is owned by members of the Ülker family, who control the food giant Yıldız Holding.
Four other consortia, including a number of other major Turkish holdings, have applied for the privatization tender to run the two Bosphorus bridges, highways, and the service facilities, management facilities and toll facilities associated with them. These will be tendered as one package for the 25-year management rights.
The other consortia that have applied for the tender are Vinci Concessions Holding, Zorlu Holding-OHL Concessions Joint Venture, Nurol Holding-MV Holding-Alsim Alarko Industrial Institutes and Commercial Construction-Fernas Construction Joint Venture, Autostrade Per Italia-Doğuş Holding-Makyol Construction Industrial Tourism and Commerce-Akfen Holding Joint Venture.
Turkey’s İçtaş İnşaat and Italy’s Astaldi consortium won a build-operate-transfer bid in late May for a part of the Northern Marmara Highway Project, which includes a third bridge over the Bosphorus.
The government is also building a rail line under the Bosphorus, in addition to another tunnel for cars.
The deadline for toll road bids had been delayed several times, mainly due to lack of interest.