KUALA LUMPUR: The consortium comprising UEM Group Bhd, Koç Holding and Gözde Girisim Sermayesi Yatirim Ortakligi has won the concession rights to operate and maintain toll roads of 1,975km, two connecting roads and two bridges in Turkey for 25 years.
UEM Group, which holds a 40% stake in the consortium, said in a statement that it had submitted the highest bid for the privatisation of Turkey’s bridges and highways for US$5.72bil (RM17.5bil).
The tender for the privatisation was finalised yesterday following a live bid held in Ankara, Turkey.
The tender was conducted by the Privatisation Administration and it is one of the largest concession privatisations under a single package undertaken in the country to date.
UEM Group managing director and chief executive Datuk Izzaddin Idris said: “This is a significant milestone for UEM Group as we’ve always aimed to expand our expressway service offering beyond Malaysia, India and Indonesia.”
Koc, Turkey’s largest industrial and services group, and Gözde Girisim, a publicly-traded private equity investment company, hold 40% and 20% stake respectively in the consortium.
The tender submitted by the consortium will be subject to approvals by Turkey’s Privatisation High Council, Competition Board and Council of State.
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