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Mon 1 Oct 2007 12:35 PM

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Turkey plans Saudi airports bid

Turkish airports operator TAV says it wants to bid alone in tender competition for three airports in KSA.

Turkish airports operator TAV Havalimanlari Holding said on Monday it planned to bid alone in an October 2 tender competition to provide management services for Saudi airports.

In a statement to the Istanbul Stock Exchange, TAV said the airports covered by the tendering are Riyadh King Khaled International Airport, Damman King Fahd International Airport and Jeddah King Abdulaziz International Airport.

"The tender itself does not hold much potential but what is important here is that if a privatisation takes place after six years the company will have the first right of refusal," said Can Oztoprak, senior analyst at Oyak Securities.

The tendered contract will be for a six-year peiod, he said.

Shares in TAV, which listed on the Istanbul Stock Exchange earlier this year, were unchanged at 11.1 lira at 0805 GMT.

TAV operates airports in Ankara, Izmir and Istanbul's main Ataturk airport.

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