Turkey extends deadline for grid tender payments
ANKARA: Turkey's Privatisation Administration (OIB) on Wednesday extended the deadline by three months for companies to pay deposits on their bids in tenders for two Istanbul power networks, company officials said.
The privatisation body said it will seek an additional 2 percent deposit from power grid tender winners, one official, who requested anonymity, told Reuters.
The initial downpayments were around 3 percent. MMEKA Makine, a venture between businessmen Mehmet Emin Karamehmet and Mehmet Kazanci, made the highest bid of $1.813 billion for Ayedas, which has about 2 million customers, back in December.
A joint venture of private Turkish companies Is-Kaya Insaat and MMEKA Machinery made the top bid of $2.99 billion for the Bogazici power distribution grid, which serves the European side of Istanbul.
Copyright Reuters, 2011
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