Turkey to have another go at privatizing Izmir’s Alsancak port

Alsancak Port, Izmir

Izmir’s Alsancak Port – one of Turkey’s largest export hubs –  is to be put up for privatisation next year, Turkey’s Chamber of Shipping announced this week.
Currently owned by the state-run Turkish State Railways ( TCCD), an initial attempt  to privatize the port in 2006 fell foul of the global economic crisis, when a $1.275bn offer from a consortium put together by  Global Hutchinson and the Aegean Exporters’ Union  collapsed.
The Turkish  Ministry of Transportation subsequently invested $300m renovation in the port’s  enlargement and dredging  and additional staff were transferred from other privatized ports.
The new tender document envisages a more modest redevelopment than the original, with a smaller cruise port area and the replacement of the original shopping mall with a complex of small shops and hotel. Nevertheless, the  new port is expected to increase its container capacity from 900,000 TEU to three million TEU, making it the fifth largest in Europe.
“The reason Izmir exists is thanks to its port,” the Chamber’s branch chairman Yusuf Öztürk said. “So we support every step that removes uncertainty over its  future…. We think that ports should not remain under government control. They should  therefore  either be privatized or run by autonomous structures.”

Source: dailysabah