Koç unit bids in power plant tender

Turkish LPG distribution company Aygaz said on Sept. 12 its Entek Elektrik Üretim unit, jointly owned with parent Koc Holding, has bid in a tender to operate two hydroelectric power stations.

A previous privatization tender in 2016 for the two power plants, Menzelet and Kılavuzlu, had been canceled, Aygaz said in a statement to the Istanbul stock exchange. 

Tüpra? agrees to pay 55 mln liras in tax demands, fines

Tüpra?, Turkey?s sole oil refiner, said it has reached an agreement with authorities to pay a sum of 55 million Turkish Liras ($22 million), after negotiating on tax demands and related fines totaling 160 million liras.

?A negotiation was held with the Central Reconcilement Commission,? the company said by a written statement to the Public Disclosure Platform (KAP).

Privatization: Who will run Istanbul’s gas grid?

The coming tender to privatize the distribution of Istanbul’s gas to its 5.1 million customers should not be seen as a simple commercial transaction of “whoever pays the most in the bidding round will win the contract.”

It is rather strategic for many reasons affecting Turkey’s energy security, investment climate, environmental quality and trading ties.