.. NEWS Cbgeıııwdoıı, 'Wasre rtcD KURUMAHMUTOGLU GROUP'S SAMSUN GFTPP PROJECT The application by Kurumahmutoglu Group to the MENR (Ministry of Energy & Natural Resources) jointly with its foreign capital partner to build a 1,600 MW GFTPP (Gas-fıred Thermal Power Plant) in Samsun evokes much curiosity in the electricity markets . . . How to treat and conclude new investment applications is not known yet because the electricity markets are now in a transitional period and the Electricity Market Authority is assigned under new Law No 4628 tor such affairs. Following the disclosure of project preparations by Kurumahmutoglu Group, which is one of the biggest regional entrepreneurs in Samsun, tor the purpose of building a giant GFTPP with an output of 1,600 MW, intensive curiosity has emerged over the giant investment in the electricity markets, which are in the process of restructuring. At a press conference jointly held with its toreign capital partner about the giant power plant project which is to be built in Samsun attracting attention of authorities and international and local investors in the electricity markets, Kurumahmutoglu Group of Companies disclosed that they have signed a partnership agreement to realize the investment in Turkey jointly with a foreign partner. The group said that it has already applied to the MENR tor this purpose. Mustafa Kurumahmutoglu, Executive Board President of Kurumahmutoglu Group of Companies, disclosed that they had obtained positive results from their initiative with the government tollowing the conclusion of the agreement with their toreign partners. He has made the tollowing statement about the investment: "An application has been lodged with the MENR upon conclusion of designs tor construction of a 1 ,600 MW power plant in Samsun, which wili be fireci by gas that will arrive in Samsun via the Blue Stream Pipeline from Russia. An investment of about $ 2 biliion is needed tor such a power plant. During the negotiations with our toreign partner, it has been decided that 80 % of the investment be realized through credit and 20 %, through equity." Foreign partner's name not disclosed Kurumahmutoglu Group of Companies stated that parallel to the gentlemen's agreement, they do not want to disclose the name of their toreign partner at this stage. in case investment permission is obtained, the project wili be completed in maximum 36 months, with the commissioning of Samsun Power Plant. Transitional period stili continuing under the new law, the subject of investment permissions not clear yet. A survey by TEBA about any new investments to be made in the electricity sector has produced interesting results. As is known, according to new Law No 4628, there is a transitional period under way at present. The new law stipulates that the transitional period wili continue until September 2002. However, this process can be extended by 6 months with a Cabinet Decree it necessary. During the transitional period under the law, the MENR is stili responsible tor taking necessary measures in connection with the sector's urgent requirements, ensuring electricity production and putting torth any suggestions to solve the electricity supply crisis. However, after this process, ali the planning and supervision functions including new investments will be given to the Electricity Market Council as per the new Law. According to the Electricity Market Council circles, it is necessary to obtain licenses from the Authority tor new investments in the sector from now on. However, prior to examination of applications to be made tor new investments, investment characteristics will be identified by taking into account the sector's future supply and demand projections. On the other hand, concerned circles comment that it would be appropriate tor the MENR to decide on the sector's urgent requirements during the transitional period and that the Ministry must leave major investment decisions that will affect the sector tor implementation according to the conditions of the new law. As wili be recalied, in the previous announcements, the MENR had wanted that decision be taken about any new investments, which would start operation after 2005, in the torthcoming period. Kurumahmutoğ/u Grubu, Samsun'da DGTS projesine başlıyor Kurumahmutoğlu Grubu'nun yabancı sermaye ortağı ile Samsun'da 1,600 MW kapasiteli bir Doğal Gaz Termik Santrali (DGTS) kurmak için Enerji ve Tabii Kaynaklar Bakanlığı'na başvurması ile elektrik piyasalarında müthiş bir merak uyandı. Yeni yatırım başvurularının nasıl işleme konup sonuca ulaştırılacağı henüz bilinmiyor, çünkü elektrik piyasaları şimdilik bir geçiş dönemi yaşıyor ve bu tür işlemler için 4628 sayılı yeni çıkarılan yasa ile Elektrik Piyasaları Kurulu'na henüz yetki tanındı. Samsun'daki en büyük bölgesel yatırımcılardan biri olan Kurumahmutoğlu Grubu'nun 1,600 MW kapasiteli dev bir DGTS kurma amacı taşıyan birprojeye ilişkin hazırlık içinde olduklarının açıklanmasını takiben, yeniden yapılanma süreci içinde bulunan elektrik piyasalarında dev yatırımla ilgili inanılmaz boyutlarda bir merak uyandı. Kurumahmutoğlu Şirketler Grubu, centilmenlik anlaşmasına uymak istediklerini, bu yüzden bu aşamada yabancı ortaklarının adını açıklamayı istemediklerini belirtti. Yatırım izni alındığı takdirde başlayacak olan proje, en fazla 36 ay içinde tamamlanarak Samsun Enerji Santrali'ne işlerlik kazandıracak. ECOGENERATION WORLD Ll2
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