Regulation on the Procedures and Principles Regarding the Cross-Border Data Transfer
July 2024
On 10 July 2024, the Regulation on Procedures and Principles Regarding the Transfer of Personal Data Abroad (the "Regulation"), which governs the implementation of Article 9 of the Personal Data Protection Law ("PDPL") concerning cross-border data transfers, was published. This Regulation primarily addresses the obligations of data controllers and processors in managing cross-border data transfers and establishes corresponding procedures.
For the full article, please use the following link.
Significant Changes to the Turkish Commercial Code and the Law on the Protection of Competition
June 2024
Law No. 7511 on the Amendment to the Turkish Commercial Code and Certain Other Laws (the “Amendment Law”) entered into force upon its publication in the Official Gazette dated 29 May 2024 and numbered 32560. The Amendment Law introduces significant amendments to the Turkish Commercial Code (“TCC”) and Law No. 4054 on the Protection of Competition (the “Competition Law”). Comprehensive amendments regarding the TCC relate to the functioning and powers of companies’ boards of directors and minimum capital requirements. In terms of the Competition Law, amendments relate to…
Overview of the Turkish Competition Authority's Merger Control Enforcement in 2023
January 2024
The Turkish Competition Authority published its annual Mergers and Acquisitions Overview Report on 5 January 2024. The Report presents data related to mergers and acquisitions examined by the Competition Board during 2023 and helps to observe the trends in TCA’s merger control enforcement.
For the full article, please use the following link.
Ispartakule-Çerkezköy Railway Project
June 2023
The project aims to increase passenger and freight capacity, safety and speed of rail transport between Turkey and the European Union via the construction of a high-speed rail between Ispartakule and Çerkezköy. The project is a part of the new high-speed railway (the Halkalı - Kapıkule railway line) between Istanbul and Kapıkule near the Bulgarian border. The Halkalı - Kapıkule railway line will connect Turkey’s railway network with the Trans European Transport Network through Bulgaria and will, therefore, set a milestone for the railway connectivity between Turkey and the European…
Battery Development and Production Factory
June 2023
In June 2023, Ulu Motor, a subsidiary of Ulubaşlar Group which is a leading company in the automotive sector in Turkey, has signed an agreement with Chinese electric vehicle manufacturer, Skywell, on the opening of a battery development and production factory in Turkey. Initially, the factory will serve as the battery production factory for Skywell cars. There are further plans to establish a vehicle production line and spare part supply system and manufacture of vehicle parts.
In accordance with the agreement, the factory’s construction is expected to be completed in the first quarter…
Subway Investments
June 2023
The Istanbul Metropolitan Municipality and Metro Istanbul have announced that there are seven metro lines including line extensions to be constructed. These are as follows:
Göztepe-Ümraniye Metro Line is currently under construction and expected to be opened in 2024
Kirazlı-Halkalı Metro Line Extension is currently under construction and expected to be opened in 2024
Kirazlı-Bakırköy IDO Metro Line Extension project will commence in 2024 and is expected to be completed in 2025
Tavşantepe-Tuzla Metro Line Extension is currently under construction and expected to be opened…
Karamürsel Wind Power Plant Project
June 2023
Ortadoğu Energy (Ortadoğu Enerji Petrol Mühendislik İnşaat Sanayi ve Ticaret Ltd. Şti.) and Ruzen Energy (Ruzen Elektrik Üretim ve Tic. Ltd. Şti.) are developing a wind power plant project located between Kocaeli and Bursa. The expected project cost is USD 46.8 million. The project is currently fully owned by Ortadoğu Energy. Nordex will be the turbine supplier for the project, and it is expected to provide 12 units of N100 turbines, each with a 2.5 MW capacity.
The project is expected to get commissioned in 2023.
Alaşehir-2 Geothermal Power Plant Project
June 2023
Zorlu Geothermal Energy (Zorlu Jeotermal Enerji Elektrik Üretimi A.Ş.), a Zorlu Energy (one of the biggest players in Turkey’s energy sector) company that operates the 45 MW Alaşehir Geothermal Power Plant in Manisa's Alaşehir district, is preparing to build another geothermal power plant (GPP). Zorlu Geothermal Energy will build and operate the Alkan-II GPP with an installed capacity of 10 MW in Alaşehir, Manisa. The power plant will meet the annual electricity needs of 20,000 people. The project value is estimated around TRY 481 million (EUR 19.4 million).
The power plant is…
Ford Otosan Investment
June 2023
In 2021, Ford Otosan has announced that an investment of EUR 2 billion will be made within the scope of the Kocaeli factories’ transformation, which are among Europe's largest commercial vehicle production bases, to produce electric cars. In February 2023, it is announced that a total investment of EUR 1.39 billion is planned to be made in the next five years. Within the strategic partnership between Ford and Volkswagen, Ford Otosan will produce the new generation of Volkswagen commercial vehicles model 1-ton in Turkey. With the investment, the Kocaeli factories aim to become Turkey’s…
Protocol between OSBÜK and Esarj on Electric Charging Stations
May 2023
In May 2023, Eşarj (Eşarj Elektrikli Araçlar Şarj Sistemleri A.Ş.), the electric charging station network, the majority of which is owned by Enerjisa Enerji A.Ş (one of the main companies in Turkish energy sector), and the Organized Industrial Zones Supreme Organization (OSBÜK) signed a cooperation protocol on the establishment of fast charging stations in organized industrial zones. The protocol currently involves 272 organized industrial zones throughout Turkey.
There is no available information on the commencement date of the electric charging stations’ installation.
Alarko to Invest USD 650 Million in Agriculture and Food Sector
May 2023
Alarko Holding, one of the biggest players in contracting, energy, industry, tourism, land development and venture capital market sectors in Turkey, announced that it plans to invest USD 650 million in agriculture and food projects.
Accordingly, as part of its 2030 targets, the company decided to invest in the agriculture and food sector focusing primarily on assisted greenhouse cultivation, open field agriculture, organomineral fertilization, food processing and sales as well as agricultural R&D technology.
Alarko Holding aims to employ 4000 people with an investment of USD 650…
Kanal Istanbul
“Kanal Istanbul” is one of Turkish mega infrastructural projects.
