2nd Annual PPP in Turkey Forum
Following Ersin Kara's (Project Manager, E.E.L. Events) welcoming address and thanks to the event sponsors, the forum was opened by the conference chair Hakan Akbas (Albright Stonebridge Group) who provided a detailed review of the state of play regarding PPP in Turkey. This was followed by five speeches, the first from Mehmet Simsek (Turkish Minister of Finance). This was followed by presentations from Cem Galip Ozenen (Republic of Turkey Ministry of Development), Fatih Altunyuva (Investment Support and Promotion Agency of Turkey), Idil Gursel (EBRD) and Dr. Ilhan Yilmaz (Yilmaz & Ciner Law Offices). Each representative underlined the PPP pipeline in their respective sectors, including review of past and current projects in PPP formula. With an ambitious PPP pipeline and specific targets up for the future, these opening speeches provided an excellent opportunity for delegates to learn about projects in Turkey.
After a well-deserved coffee and a chance to network with each other, the delegates once again took their seats for the next session on risk for Turkish PPP projects. Following presentations from Graham Olver (WYG International) and Levent Irmak (MC2 Modern Construction Consulting), the panel session led by Nicholas Gould (Fenwick Elliott & ICC International Expertise Committee) commenced. Panellists included Tylor Hartwell (Sumitomo Mitsui Banking Corporation Europe), Ayhan Sarisu (Privatization Administration), Idil Gursel and Graham Olver. Nicholas focused questions on managing risks in PPP projects, looking at political, legal and socio-economic risks, the need for effective risk allocation, dispute escalation clauses in PPP and long-term projects and the range of dispute resolution techniques available.
Following a break for lunch, the afternoon session allowed more detailed discussions on financing PPPs and future project pipelines. The financing session was opened by Levent Kirazoglu (Garanti Bank) discussing financing models for Turkish PPP projects. This was followed by Nurhan Karaca (Turkish Treasury) who discussed the Treasury’s role in financing PPP projects and the involvement they would have in these. Mel Zuydam (Ecorys) then gave his presentation titled ‘Turkey PPP – making it happen – next steps’. Mel then went on to chair the panel discussion on possible options for structuring PPP financing. Panellists included Ralf Ernst (UniCredit Bank AG), Serdar Aricoglu (Garanti Bank), Jonathan Dames (CMS Cameron McKenna), and Adam Nancarrow (Macquarie). Topics for debate included: the issue of liquidity for local banks, the development of sukuk and infrastructure bonds in the PPP markets and possible options for reducing the financial negotiation process.
After a second networking coffee break, the final session of Day 1 looked at PPPs in the Education and Environment sectors. It was opened by Burak Sencer (Mott MacDonald) who outlined the state of play in the Turkish education sector, including lessons learnt from the UK. Yalcin Eliguzeloglu (Koc Holding) provided a detailed analysis of challenges and opportunities facing PPPs in the environmental infrastructure sector in Turkey. This was followed by the final presentation of the day, and Maja Baricevic (Agency for Public Private Partnerships) gave an overview of PPP in Croatia.
Day 1 closed with applause and after Hakan Akbas gave his closing remarks, delegates proceeded an evening cocktail reception, with drinks and canapés provided by E.E.L. Events Limited. This provided an additional opportunity for attendees to network and hand out business cards.
Day 2 provided more detailed analysis of two key PPP sectors – Healthcare and Transport Infrastructure. Mel Zuydam opened the healthcare session as today’s chairman. This was followed by a ministerial address by Muhammet Misir (Republic of Turkey Ministry of Health), who gave a brief history of healthcare PPPs and outlined future pipelined projects. Bruce Schlaitzer (Hill International) then gave an in-depth presentation on improving the financial outcome of PPP healthcare projects. The session continued with Fatih Turkmen (Turkish Ministry of Development) who discussed the current situation and future opportunities of the healthcare sector in Turkey. Finally John Seed (Mott MacDonald) discussed creating bankable PPP projects in Turkey.
Following a brief networking break, the session closed with a panel debating whether the Turkish healthcare market is a viable long-term opportunity for investors. This was chaired by Cagdas Evrim Ergun (Cakmak Law Office), and panellists included Huseyin Arslan (YDA), Marco Rosso (Meridiam Infrastructure Finance), Sule Kilic (UniCredit Bank), Zeynep Kantur (IFC), Fatih Turkmen and John Seed. Specific areas for discussion include the state’s effort to support city hospital projects and lessons learned from the Kayseri and Bilkent projects.
After a networking lunch break, the conference continued with a Transport session opened by Murat Kosal (Otoyal A.S.) providing a case study of the Gebze-Izmir toll road. This was followed by another case study, this time by H. Levent Cekirge (YM Infrastructure Investments Inc.) using the example of the Eurasia tunnel project. After Orhan Aytemiz (Black Sea Trade & Development Bank) gave his presentation on BSTDB’s role and achievements in the transport sector, the conference closed with a targeted panel discussion on the role of PPPs in delivering transport infrastructure projects. This session was aptly led by Franco Vigliano (Ashurst), and he was joined by Arda Akarsu (TEB), Rob Gray(CMS Cameron McKenna) and H. Levent Cekirge.
The conference was closed with remarks from the day’s chairman Mel Zuydam, and was followed by a networking coffee break.
If you are interested in accessing the conference materials (presentations, videos and delegate list), then please complete and return the necessary order form.
E.E.L. Events Limited will be providing a series of PPP forums in 2014, including our 3rd Annual PPP in Turkey Forum. If you would like to be involved as a sponsor, speaker, panellist or delegate please contact one of our representatives.