ECONOMY

In Brief

Turkey’s nuclear power plans attracts 11 bidders ANKARA -Turkey’s plan to build its first nuclear power plants has attracted 11 bids from private sector firms, an official said yesterday. The Turkish government plans to start construction of its first nuclear power plants next year in the Black Sea coastal province of Sinop with a total 5,000 MW capacity. Last Friday was the deadline for firms to submit their bids to the Energy Ministry. «By Friday evening, 11 firms submitted their suggestions for the construction model of the nuclear power station,» said the official. Turkey will not hold a tender for choosing the firm for construction of its plants. The Energy Ministry will pick a firm for the construction, and the Cabinet will have the final say. A number of firms, such as local heavyweights Koc Holding and Sabanci Holding, have expressed interest in the nuclear plans in addition to several firms from Canada, Japan, South Korea, France and China. Construction of the plants, which the government says will avoid future power shortages, is expected to start in January 2007. Turkey’s previous efforts to build a nuclear power plant, stretching back 30 years, failed due to cost and opposition from environmental groups. Oil and natural gas imports, along with coal and hydro-electric power, account for most of Turkey’s current energy needs. (Reuters) Emporiki sale plan to be announced next month PARIS – The Greek government will announce in June its plans for the sale of a stake in the country’s fourth-largest lender, Emporiki Bank, Finance Minister Giorgos Alogoskoufis said yesterday. «We have made good progress. We hope that during June we shall be able to make some announcements,» he told Reuters after a lunch at the Organization for Economic Cooperation and Development. The government, which controls about 40 percent of Emporiki, is selling up to 24 percent of the bank. France’s Credit Agricole controls 11 percent of Emporiki. «We shall give Credit Agricole a first shot at Emporiki, but we must have an open process,» Alogoskoufis added. (Reuters) Private power plants The Electric Power Transmission System Operator (DESMHE) proclaimed yesterday the tender for the construction of the first private power-producing unit, with two more to follow by next April, totalling 900 megawatts. The units in southern Greece will use natural gas and are aimed to offset the network’s imbalance, as most producing units are in the north, while consumption peaks in the south. The winning bid will be the one asking the lowest guaranteed revenue for 12 years. The price will range between 75,000 and 92,000 euros per MW per year. OTE-Serbia Telecoms operator OTE will not be bidding for Serbia’s biggest mobile operator Mobtel, a company source said yesterday. «OTE will not participate in the auction for Mobtel,» the source, who declined to be named, told Reuters. (Reuters)