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    Galataport project gets further delayed

    Hürriyet Haber
    01.02.2006 - 11:42 | Son Güncelleme:

    Another delay in the Galataport project was reported on Tuesday following the Council of State's Department suspension of the project early in January 2006. The project which lays out development plans for the Salipazari-Karakoy Cruiser Port Complex in Istanbul is facing bureaucratic delays with the Turkish State Planning Organization (DPT) planning to send the Galataport file, which is currently at Higher Planning Board-YPK, back to Privatization Administration (OIB), said sources on Tuesday. Although the relevant procedures had been completed the OIB had not yet received the file.

    The file will be sent to OIB for reconsideration of the Galataport issue, said officials on Tuesday.

    A consortium led by Israeli shipping magnate Sami Ofer's Royal Caribbean Cruises Ltd. and Turkey's Global Investment Holding won the tender (for Galataport) by offering $4.3 billion for the right to run a major Istanbul seaport (Galataport) for 49 years.

    The Ministry of Culture and Tourism earlier amended the development plan for construction of a cruiser yacht port in Istanbul's Salipazari district, sources said that this suspension decision would halt the approval by the YPK.

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