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COUNTRY REPORTTURKEY


Project cargo between Turkey and Iraq, such as these cement mills that Kita moved, is quiet at the moment.


technology is continuously developing, enabling faster, more efficient transport of ever-heavier and larger shipments, the regulatory framework is lagging behind. Nuhoglu outlined: “Necessary permits


that must be obtained from the regulatory offices, engineering approvals, restrictions for heavy transport at night, high costs, and escort vehicle obligations are some of the bureaucratic obstacles that the sector faces.” Legislation that is harmonised with the


European Union is a must for the development of the sector, he feels, as is proper implementation of the World Trade Organization’s Trade Facilitation Agreement – which has yet to yield benefits for Turkey, in Nuhoglu’s view. Working groups that bring together the public and private sectors could also facilitate the development of project logistics.


Brighter view In spite of the difficulties, there are causes for optimism. Emre Eldener, managing director at Kita Logistics, agreed that investment in Turkey slowed in 2019 compared with the previous year, with financing more expensive and subject to delays. “But 2020 looks good, certainly better


than was expected six months ago when we had a fluctuating exchange rate and higher interest rates were making it hard to borrow,” he said. “Inflation has dropped to about 10 percent and the cost of borrowing has also fallen, so


46 January/February 2020


we expect a boost for projects in 2020. The government is also expecting [economic] growth of 2.5-3 percent in 2020.” Although some power generation


projects have been postponed, infrastructure projects such as expressways, tunnels and metro systems are still in progress, and Nuhoglu expects that those put on hold will be restarted in 2020, with interest in Turkey from foreign investors likely to increase. Amid speculation over a possible global


recession in 2020, he believes that the Turkish economy would spend the year attempting to ensure stability and minimising the effects of the ongoing crisis. “As of the third quarter of 2019, it can be


stated that there have been promising developments in general with the increase in confidence in the Turkish lira and decreases in interest rates. As a matter of fact, while the projects that were put on hold started to come up again, there were positive increases in production – even though they did not regain their previous volume,” he added.


Mega projects The Turkish government is continuing to invest in mega projects such as new airports and bridges. Investors are still becoming involved in local wind, thermal and geothermal power projects. Some of Turkey’s power plants are being dismantled and shipped to African countries, Eldener added. Plus, there are various natural gas


2020 looks good, certainly better than was expected six months ago when we had a fluctuating exchange rate and higher interest rates were


making it hard to borrow. – Emre Eldener, Kita Logistics


pipeline projects under way. The TurkStream pipeline was commissioned by Gazprom in January. It links Russia via the Black Sea to the west of Istanbul and then on to Bulgaria and Greece, as an alternative to the existing Blue Stream pipeline that also supplies Turkey. Furthermore, a 45 km-long canal linking


the Black Sea to the Sea of Marmara, passing alongside Istanbul, continues to be discussed by the government and environmental groups.


www.heavyliftpfi.com


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