Turk highway sell-off seen in early 2008
ANKARA/ROME (Reuters) – Turkey’s privatization of some of its highways and bridges, expected to bring in more foreign investment to Turkey, is due to be launched in early 2008 at the latest, an economy official told Reuters yesterday. As part of a broad privatization program, European Union candidate country Turkey plans to sell eight highways and two landmark bridges which cross the Bosporus Strait in Istanbul. Italian toll road operator Atlantia’s chief executive, Giovanni Castellucci, said the company was looking with interest at the Turkish privatization. «We are watching this dossier carefully, it is a very important operation,» Castellucci told reporters. Roads, along with electricity grids, are the next major privatizations in Turkey after a series of big-ticket items in the last few years. The sale strategy for the highways and bridges is due to be completed within a month, the Turkish official said. It has not yet been decided whether the assets will be sold together or separately. «At the latest, we aim to have the tender announcement ready to put out at the start of the year,» the official said. The official said it was too early to speak on the valuation for the roads and bridges. «A sale strategy should be determined first. It is not right to talk about price at this moment,» he said.
