Turkey's Kolin applies to transfer Istanbul Airport operator shares

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ISTANBUL, Feb 25 (Reuters) - Turkish construction company Kolin Insaat has applied to the country's competition board to transfer its shares in IGA, the company building and operating Istanbul's new $12 billion airport, to other partners in the project, the board said.

The statement said it applied to transfer the shares to construction companies Cengiz Insaat and Kalyon Insaat.

No further details were immediately available, but Kolin said in January it was in talks on transferring its stake in the project, which is running behind schedule and over its original budget.

In December, IGA raised its capital by 1.1 billion lira($207 million) to 7.4 billion lira, the second capital hike within six months - for a total 66 percent capital increase.

Turkish officials have said it will be one of the world's busiest. It will be able to handle 90 million passengers a year, and could be expanded to accommodate as many as 200 million, President Tayyip Erdogan has said.

While officially opened by Erdogan in October, it is only partially operational and the transfer of operations from the current Ataturk Airport has been repeatedly delayed. Media reports suggest the latest planned transfer in early March will also be postponed.

($1 = 5.3132 lira)

This article appears in: Stocks , Politics

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