Page 8 - TURKRptJul21

● NPLs, bailouts and debt restructuring queues continue.
● Snap polls?
Erdogan is in trouble in all fields. He is in a big hole. He is open to any kind of frenzy.
● The ultimate end: Turkey still has access to borrowing on the markets—though each instance of borrowing at these costs brings the country closer to the ultimate end, namely an economic and political surrender to an IMF programme.
A new version of the ruling party, Erdogan’s Justice and Development Party (AKP), working under an IMF programme is the likeliest potential major change you might see on the road ahead.
2.2 Kalyon, Kolin, Cengiz, ERG and Ronesans awarded €15bn public contracts in past five years
Five Turkish construction companies—namely Kalyon, Kolin, Cengiz, ERG and Ronesans—have been awarded 55 public contracts between 2017 and 2021 worth a total of TRY161bn (€15bn).
Kalyon topped the list at 17 contracts worth TRY50bn, followed by Kolin at 15 contracts worth TRY40bn.
Cengiz came in third with 12 public contracts worth TRY34bn while ERG obtained only one contract—construction of the high-speed rail line between the capital Ankara and the western province of Izmir—but its worth was TRY21bn.
Ronesans was awarded 10 contracts with a combined value of TRY16bn.
Only three of the mentioned 55 contracts were awarded via open tenders. The negotiated tendering method was employed in 37 deals.
2.3 Kalyon, Kolin, Cengiz, Demiroren in Azerbaijan
In May, Azeri President Ilham Aliyev awarded a contract for exploration and exploitation of the Gashgacai gold mine to Eti Bakir, owned by Cengiz Holding.
He also awarded contracts to operate two other fields, Elbeidash and Agduzdag, to Artvin Maden, a joint company held by Cengiz Holding and Kalyon Group.
Another company run by Mehmet Cengiz won a contract in 2007 from Azerbaijan’s state water management company for the construction of a massive hydroelectric dam.
The road to Shusha town in Nagorno-Karabakh is being built in part by two Turkish firms, Kolin Insaat and Ozgun Yapi.
In January, Aliyev signed a decree awarding management of Azerbaijan’s national lottery to a subsidiary of the Turkish firm Demiroren Holding.
8 TURKEY Country Report July 2021 www.intellinews.com