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?, 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).
Turkey?s sole oil refiner Tüpra? has said it faces a tax demand and related fines totaling 160 million liras ($69 million) following an 18-month investigation by authorities.
The demand for 65.6 million liras and fines of 94.4 million liras date from 2009 to 2013, the company said in a filing with the stock exchange.
The coming tender to privatize the distribution of Istanbulâs gas to its 5.1 million customers should not be seen as a simple commercial transaction of âwhoever pays the most in the bidding round will win the contract.â
It is rather strategic for many reasons affecting Turkeyâs energy security, investment climate, environmental quality and trading ties.