Page 67 - TURKRptJul20
P. 67
9.2.2 Construction & Real estate corporate news
Turkish construction firm Nurol Insaat has been awarded a $174mn contract to build a section of the Bucharest ringway.
Under the deal, Nurol will construct a 17.5-kilometre section, business daily Dunya reported.
Nurol is expected to complete the construction work in 2023.
The section is part of a project that will build 100.8 kilometres in all.
Back in 2018, another Turkish construction firm Alarko, won a tender to build 10.3 kilometres of the project. The value of that deal was $170mn.
Turkish contractors have taken up over 10,000 projects, worth more than $400bn, in 127 countries to date.
9.2.3 Agriculture corporate news
Fitch Ratings has affirmed the long-term foreign- and local-currency issuer default ratings (IDR) of Turkish beer and malt producer Anadolu Efes at 'BBB-' (investment grade), with a stable outlook.
The rating agency said the affirmation reflected its expectations that the credit metrics of Anadolu Efes will recover in 2021 after weakening as a result of the economic fallout of the coronavirus (COVID-19) and FX impact on the company’s hard-currency denominated debt.
67 TURKEY Country Report July 2020 www.intellinews.com
