Investors

Five apply to bid for $6bn Turkish roads sell-off

Vinci, OHL and Autostrade are some of the international names that have submitted pre-qualification documents to bid for Turkey’s oft-delayed $5bn to $6bn roads privatisation package – which includes Istanbul’s two suspension bridges. October 31 is the final bidding deadline.

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After multiple delays and a false start in 2008, Turkey’s $5 billion to $6 billion roads privatisation programme has finally got underway, with five consortia submitting pre-qualification documents to participate in the bidding process, Turkey’s Privatisation Administration announced this week.

The five teams are bidding for the 25-year operating rights for eight toll roads covering some 2,000 kilometres of roads across the country, including the Bosporus and Fatih Sultan Mehmet bridges, in Istanbul. The consortia include:

– Vinci Concessions;

– Zorlu Holding, OHL Concesiones;

– Nurol Holding, MV Holding, Alsim Alarko, Kalyon Insaat, Fernas Insaat;

– Autostrade Per I'Italia (Atlantia), Dogus Holding, Makyol Insaat, Akfen Holding;

– Koc Holding, UEM Group Berhad, Gozde Girisim Sermayesi Yatirim Ortakligi.

A final bidding deadline has been set for October 31.

The tender process for the roads package has been delayed several times since the assets were first put up for sale in August 2011. The privatisation programme was originally touted in mid-2008, but failed to gain traction due to a decline in available funding, caused by the emergence of the global financial crisis.

A build-operate-transfer contract for a third Istanbul bridge, worth $2.5 billion, was won by Italian developer Astaldi in May this year.