Limak Yatırım, an energy and construction conglomerate, has submitted the highest bid, TL 372 million, in an auction of the management rights of the Port of İskenderun in southern Turkey for 36 years. 

The auction, for which the Privatization Administration (ÖİB) launched a tender in May 2010, was open to both domestic and foreign companies as well as consortiums. Thıe first tender for the port was held in 2005 but was scrapped by the Council of State in December 2006. The highest bid in the previous tender was TL 80 million. 

The port is located in the northeastern part of the Mediterranean Sea and serves the southern and southeastern Anatolia region as well as transit rraffic to Middle Eastern countries. 

Speaking after the tender, Ebru Özdemir, a board member of Limak, said they are still discussing pavment options and will decide later whether to pay it in advance or in installments. 

She said the company wants to transform the port into a larger facility through further inveslment. "The privatization specifications already state an obligation to increase the port’s capacity to 400 containers in six years." she said, and added that the company hopes to exceed this figure.