Turkey’s leading airport operator sees opportunities in Iran
AA photoTurkey’s leading airport operator, TAV Airports, has plans to pursue new projects in South Asia and Iran, TAV’s CEO Sani Şener told state-run Anadolu Agency on Jan. 27.
“We consider the whole world to be a market and we are particularly pursuing projects in South Asia. In compliance with our new strategy to achieve vertical growth together with our service companies, we are also pursuing projects in North America and Africa. I believe Iran will also be a good market,” Şener said.
Recently, TAV, in a joint venture with Dubai-based Arabtec, won the $1.1 billion tender for the construction of a new terminal building and other related works at Bahrain’s International Airport.
Şener said geographical and cultural proximities lead the company to expand in the Middle East, particularly in Iran which is opening up amid the lifting of international sanctions.
“Bahrain will be the fifth airport construction project of TAV Construction undertaken in the Gulf region. Our reputation and popularity have increased in the region,” he added.
Şener noted that there are some restrictions on investments in the Middle East due to current economic situation, which is dominated by low oil prices.
“There may be some overdue payments but we know that we always get paid eventually. The administrations in the Middle East region are always very sensitive about budgeting and payment issues. However I should also say that due to the current conditions they have started to apply some restrictions in their investments,” he said.
TAV operates two of Turkey’s busiest airports, Istanbul Atatürk and Ankara Esenboğa, as well as İzmir Adnan Menderes, Gazipaşa Alanya and Milas Bodrum airports.
It also operates many airports in the neighboring regions, such as Tbilisi and Batumi airports in Georgia and Zagreb Airport in Croatia, among others.
TAV Construction was again named the world’s largest airport construction company in 2015 on the global list released by the Engineering News-Record (ENR). The total contract value of the projects undertaken so far by TAV Construction exceeds $17.2 billion.