Kolin Construction has applied to Turkey’s Competition Authority to relinquish its shares in İGA Havalimanı AŞ, the consortium established for İstanbul’s new airport, the Diken news website reported on Monday.
The company reportedly lodged an application requesting the transfer of its shares to Cengiz Construction and Kalyon Construction, other consortium partners close to the Turkish government and participants in almost all of its public tenders for giant construction projects.
Kolin held 20 percent of İGA, along with Cengiz, Mapa, Limak and Kalyon Construction who also held 20 percent each.
Reports about Kolin’s exit from the partnership first appeared on Turkish media back in January.
Subsequent reports claimed Turkey’s state-owned natural gas company sent Kolin a retroactive bill of nearly TL 50 million ($ 9,4 million).
Source: Turkish Minute