News Scan – April 3rd: Twitter ban lifted in Turkey

Twitter ban lifted in Turkey

Following the ruling made by the constitutional court tha the access ban was “a violation of rights”, Twitter ban has been lifted.

Prior to said decision, President Abdullah Gül had also implied that he wanted removal of the ban on his Twitter

Foreign Minister Davutoğlu had commented that the decision of the constitutional court was being analyzed before the ban was lifted, underlining that there was a certain course the government had to follow.

MEDIA

Oil price discount on the way

The decline in oil prices which started due to the anticipation that Libya oil terminals will be opened is expected to continue to reflect to consumer prices.

Following the decrease in dollar and oil prices based on the positive atmosphere after the elections, a discount in consumer prices is expected to be announced on Friday.

EMRA had switched to ceiling price application following the increase in oil prices, earlier. EMRA sets the ceiling price for oil products. Since the introduction of ceiling price system, a hike and 3 discounts have been witnessed.

MEDIA

Foreign investors eye shipyards in Turkey

Foreign investors, with an ever-growing interest in Turkey, have now set eyes on shipyards. Shipyard lands are leased from the state for a period of 49 years, and in the event of an extension of the time limit, millions of dollars worth investment will flow to Turkey, according to industry players.

Suheyl Demirtas, Secretary General of the Turkish Shipbuilders’ Association (GISBIR), says, “During 2002-2008, the sector expanded threefold on a global basis, while it grew tenfold in Turkey. The stability in the recent years is a source of attraction for foreign investors. Investors from every part of the world are seeking opportunities in Turkey”. Demirtas says shipyards are leased by the National Real Estate for 49 years, and only 20 years have left until expiry.

According to Demirtas, the injection of foreign capital into Turkey will also provide shipbuilders with opportunities for offshore constructions, while daily rentals of a platform have reached USD 1 million. He added, “There are globally renowned companies with offshore operations. The path to cooperating with these involves attracting foreign investors to Turkey. Paving the way for this will also remove barriers to offshore operations. Turkey leases platforms from various countries for its oil and gas explorations.

INVEST.GOV.TR

French Alstom to construct Petkim’s WPP

Petkim, Turkey’s largest petrochemical complex in Aliaga, Izmir on Turkey’s Aegean coast, has signed an agreement with France-based power generation and transport systems giant Alstom for the construction of a 51 MW wind power plant (WPP) at an investment cost of around EUR 55 million.

The signing ceremony for the agreement of Alstom’s turnkey WPP project was held in Petkim’s Aliaga facilities and was attended by senior executives of the State Oil Company of Azerbaijan Republic (SOCAR) – Petkim’s majority owner – and Alstom in Turkey. Speaking at the ceremony, SOCAR Turkey President Kenan Yavuz said, “As SOCAR Turkey, we believe in the importance of renewable energy in all fields of our activity and our future investments, particularly in Petkim. This new investment for the WPP to be constructed in the Petkim Peninsula is a reflection of our belief.”

According to Yavuz, Petkim WPP will be built in two phases, generating 27 MW and 24 MW respectively, and will not only significantly contribute to the energy demand in the Petkim Peninsula, but also to the region’s need for clean energy and Turkey’s renewable energy capacity. As regards the supplier of the project – one of the most important steps in the investment -, we are more than happy to have agreed with Alstom, a professional in its field.”

Meanwhile, Alstom Turkey President Adil Tekin said, “As the ECO110 turbines that we will employ in Petkim wind farm are a perfect fit for the site’s wind speed, we will achieve maximum efficiency in the plant. We are proud that we will deliver energy to the most important petrochemical complex in Turkey with these wind turbines.”

The first phase of Petkim’s wind turbines will be completed in 2015, while the second phase is scheduled for 2016, thus addressing the renewable energy requirement of the peninsula. Power generation on the site will increase by 12 percent following the initial phase.

INVEST.GOV.TR

Shopping center sector growth ‘may slowdown’ in Turkey

The Turkish shopping center market has continued its growth from last year, particularly across Anatolia, but some risks that could give some headaches to the sector this year have emerged, according to Cushman & Wakefield’s annual review.

The report says the total shopping center supply has recorded a remarkable growth rate of 10 percent, in terms of space, and has revealed that the total volume of investment in shopping centers reached almost $310 million over the year.

According to the report published by one of the world’s leading property consultancy firms, the gross shopping center space per 1,000 in Turkey increased to 122 m2 as of the end of 2013. Ankara became the city with the largest shopping center space per 1,000 with its 260 m2, while Istanbul followed the capital with 243 m2.

However, Istanbul, the main receiver of the lion share of investments, will dominate the market with a share of 58 percent in total pipeline development, followed by Ankara and İzmir with a share of 9 percent and 8 percent respectively, the report also read. The total shopping center supply is estimated to exceed 12 million m2 with 440 retail centers in the next five years, including planning stage developments, the consultancy firm also predicted.

HURRIYET DAILY NEWS

03.04.2014

This is a news-scan from major Turkish papers and internet sites. However, we do not verify above stories neither do we vouch for their accuracy.