World Bulletin / News Desk

A joint venture between Turkish conglomerates Koc Holding AS, UEM Group Berhad and Gozde Girisim Sermayesi Yatirim Ortakligi AS has offered the highest bid of $5.72 billion for a tender to privatize of highways and two bridges over the Istanbul Strait. 

Three ventures submitted their bids in the tender on Monday during the final negotiations.

The other two ventures which submitted their bids in the tender are as follows: Nurol Holding AS-MV Holding AS-Alsim Alarko Sanayi Tesisleri and Ticaret AS-Kalyon Insaat Sanayi and Ticaret AS-Fernas Insaat AS Ortak Girisim Grubu; and Autostrade Per I'Italia SPA-Dogus Holding AS-Makyol Insaat Sanayi Turizm and Ticaret AS-Akfen Holding AS Ortak Girisim Grubu. 

The acquiring company will secure the operating rights of the highways and the bridges for a period of 25 years.