Azerbaijan, Baku, 18 January / Trend / Palmali Group of Companies plans to build new ships in Turkey. Investments worth of 70 mln Euros are expected to be earmarked for this purpose, Palmali Group of Companies which obtains around 10 ships per year said. Palmali has signed a 10-year deal to transport Azerbaijani oil from the Turkish port of Ceyhan supplied by Baku-Tbilisi-Ceyhan pipeline. The company will carry the oil with the tankers which will be built in Turkey.
Palmali Group of Companies, who possesses one of the five biggest flotillas all over the world, bought a building from HSBC for 93 mln Turkish liras which is expected to be transformed into an hotel in mid-2008, the company said. The hotel, which will carry seven stars, will be run by one of the well-known hotel companies. Talks are currently being held on this issue. The company plans to build the most up-to-date hotel in Turkey which will cost $60 mln.
Currently Palmali has two radio channels and an internet portal. The company is studying the possibility of obtaining the well-known Turkish channel Kral TV, a newspaper and a magazine. The new channel will be named Pal TV.