Turkey holds auctions for 3 sugar factories

Privatization authority set to auction 14 sugar factories

By Aysenur Saglam and Mustafa Calkaya

The Privatization Administration of Turkey conducted separate auctions to corporatize three sugar factories.

Turhal, Ilgin, and Erzurum -- the three factories of the Turkish Sugar Refineries Corporation (Turkseker) -- were up for auction.

Kayseri Seker Fabrikasi Inc. offered the highest bid -- 569 million Turkish liras ($138.6 million) -- for the Turhal Sugar Factory, while its tender started from 471 million Turkish liras ($114.6 million).

The auction for Ilgin Sugar Factory started from 632 million Turkish liras ($153.8 million) and it received bids of up to 637 million Turkish liras ($155 million) from the commercial firm, Alteks.

Meanwhile, the Erzurum Sugar Factory's auction, which started at 211.3 million Turkish liras ($51.4 million), was not offered enough by bidders.

The auctions took place within the scope of privatization in 2000.

Fourteen factories -- Afyon, Erzurum, Alpullu, Ilgin, Bor, Kastamonu, Burdur, Kirsehir, Corum, Mus, Elbistan, Turhal, Erzincan, and Yozgat -- will also be auctioned.

Previously, auctions for Bor, Kirsehir, Corum and Yozgat sugar factories were held and they were sold for 1.47 billion Turkish liras (around $357.2 million).

*Gokhan Ergocun contributed to this story from Ankara

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