Turkey intends to privatize its coal fields

Photo:  Turkey intends to privatize its coal fields / Finance

Baku, Azerbaijan, April 14

By Rufiz Hafizoglu - Trend:

Turkey intends to privatize most of its coal fields, Turkish Minister of Energy and Natural Resources, Taner Yildiz said, Turkish TRT Haber TV channel reported on April 14.

Yildiz said some 16 coal fields operate in Turkey and they are expected to be put up for privatization. Nevertheless, the minister didn't specify the timeframe of the privatization.

The minister also pointed out that the revenues from the privatization of the coal fields will contribute to the economic growth and will be spent on the development of economic spheres.

The idea of privatization of coal fields is not new for Turkey, according to Yildiz.

Turkey's revenues from the privatization increased by 25.3 percent and reached 60 billion Turkish liras in 2013 compared to 47.9 billion liras in 2012.

Some 18 companies were put up for the privatization in the country in 2013. Over 100 investors from 20 countries were involved in the privatization of facilities and companies in Turkey in 2013.

Turkey's total income from privatization that started in 1985 amounted to $57.8 billion.

The plant for sugar production, two bridges and a number of main roads are expected to be privatized in Turkey in the next two years.

Since the denationalization in Turkey, some 270 public organizations, eight main roads, two bridges and six ports have been privatized.

Earlier, Turkish Prime Minister Recep Tayyip Erdogan said that currently, Turkey is outdoing almost all EU countries in the sphere of privatization.

"The privatization in the country is aimed at the development of the private sector," he added.

Some 38 state facilities were privatized in Turkey in 2013, the Turkish Privatization Agency reported.

It is expected to bring in some $887.45 million of revenue from the privatization of 13 state facilities that are currently awaiting approval.

Ski resorts, as well as several bridges and roads are among the privatized facilities.
The official exchange rate on April 14 is 2.1177 TRY/USD.

Translated by L.Z.

Edited by C.N.

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