Turkey-Abu Dhabi Engage In Joint Venture Talks For Izmir Port

In a recent development, Turkey is engaging in talks with state-controlled Abu Dhabi Port regarding a joint venture for operating rights at the Aegean port of Izmir.

As per sources, the talks regarding the venture are ongoing. Earlier in December, Reuters reported that Abu Dhabi was looking to purchase a stake to manage Izmir Port, with the deal potentially valued at approximately $500 million.

But, due to changes in regional competition and capacity conditions, it has delayed the deal’s closure. however, negotiations are ongoing to finalize it.

‘Turkey conducted talks with other potential buyers but decided to advance with ADP. Changing competition and capacity conditions delayed the final agreement. Negotiations continue.’ revealed reuter’s source.

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Izmir Port, part of the Turkish Wealth Fund’s portfolio, is one of Turkey’s largest ports in terms of container volume and cargo tonnage.

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Meanwhile in its written response, TWF (  Turkey Wealth Fund) revealed, ‘As the Turkey Wealth Fund, we continue our work for the potential benefit of our country, in line with our goal of creating the highest added value for our country and Izmir Port and increasing the value of our assets.’