New York Ports
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Turkey cancels port privatisation tender as bids fall short
Turkey cancelled a privatisation tender for the port of Derince near Istanbul on Wednesday after all six bids came in below the minimum auction price of $516 million, the privatisation board deputy chairman Ahmet Aksu said.
The tender was for the 36-year operating rights of the port, which belongs to the state railway company TCDD, in the northwestern province of Kocaeli.
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