Turkish Finance MinisterÂ Mehmet ÅžimÅŸekÂ announced on Friday that theÂ Supreme Privatization Board has cancelled a $5.7bn tender for the privatisation of highways and bridges.
This tender would have given the winning consortium ofÂ Koc HoldingÂ (40%), Malaysia’sÂ UEM Gorup BerhadÂ (40%) andÂ Gözde GiriÅŸimÂ (20%)Â the operating rights for the 2,000 kilometer Edirne-Istanbul-Ankara highway as well as for Istanbul’s two bridges for the next 25 years.
The reason behind the decision, according to InfraPPP World, is that the governmentÂ has higher expectations for the privatization.
Several funds from Middle East Gulf are believed to participate in a future tender.
The Supreme Privatization Board is expected to announce their new strategy soon.