Turkey holds auctions for 3 sugar factories

By Aysenur Saglam and Mustafa Calkaya

ANKARA (AA) - 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