Nihat Özdemir

Three Turkish companies that have cooperated on several large projects in the last decade have peacefully parted ways in the power distribution business, Limak Holding Chairman Nihat Özdemir told daily Hürriyet on the sidelines of Oct. 29 Republic Day celebrations at the Presidential Palace in Ankara.

Limak Holding Chairman Nihat Özdemir has said a loan package worth 4.5 billion euros will be signed with six banks to finance the first stage consortium works of Istanbul?s new airport on Oct. 19. 

Some 70 percent of the package will be held by state-run banks, he noted at a meeting organized by the monthly magazine Capital on Oct. 7. 

Russia's largest lender, Sberbank, has granted ?GA Havaliman? ??letmesi (IGA), the builder and future operator of a third airport in Istanbul, 500 million euros in credit for the project, according to announcements by both parties. 

Turkey?s Limak said on May 27 it had secured a 395-million-euro ($430.75 million) long-term project finance loan as part of a $520 million investment to modernize the Hamitabat power plant in northwest Turkey.

UniCredit, Yap? Kredi, ING, KFW IPEX and DZ Bank participated in the deal.

Signals will be used to redirect bird migration routes away from the construction of Istanbul?s third airport north of the city, the owner of the company carrying out the project has said. 

Turkey?s Limak Holding plans to invest $1 billion this year to boost power generation capacity to over 5,000 megawatts (MW) in the next five years from the current 3,000 MW, the company?s chairman said.