Untitled Document
May 11, 2010
TEB Securities, European Midcap Event, London

April 29, 2010
ING Securities, ING EMEA Turkish Conference, Antalya

April 15-16, 2010
AkInvest, Turkey 2010 Investor Conference, Istanbul


Turcas Petrol
Shell & Turcas Petrol
Shell Petrol
Çekisan Storage
Ambarlı Storage
Samsun Fuel Storage
SOCAR & Turcas Energy
SOCAR & Turcas Petroche.
Petkim Petrochemicals Hold.
SOCAR & Turcas Refining
Turcas Energy Holding
Turcas Power Generation
RWE & Turcas So. Po. Gen.
RWE & Turcas No. Po. Gen.
Turcas Wind Energy Gen.
Turcas Power Trading
Turcas Gas Trading
Tourism & Real Estate
Yeditepe International Hotels
Enak Const. and Foreign Tra.


Aksoy Holding is active in the construction sector through its wholly-owned subsidiary Enak Construction and Foreign Trade. In recent years, Enak has become more focused on international markets and projects rather than the local market. Enak is also responsible for undertaking Aksoy Holding’s foreign trade operations in order to utilize the opportunities arising from foreign activities.

Enak was established in 1983 as a 50-50 joint venture company between Enka Holding and Aksoy Holding. Purpose behind Enak’s foundation was to utilize the synergies between Enka Holding’s construction activities and Aksoy Holding’s petroleum activities. At that time, Enak was serving as an oil products marketing, storage and transportation company. Enak realized high volumes of oil products trading especially with the Middle East countries such as Iran and Iraq from 1983 until the beginning of the Gulf War in 1991. In early 1990s, Enka Holding’s 50% shares in Enak were acquired by Aksoy Holding after which Enak became a wholly-owned subsidiary.

Enak has many years been awarded with gold, silver and bronze medals by the Istanbul Chamber of Commerce for providing high foreign currency entry to the country and high tax payments.

After Enak was restructured as Aksoy Holding’s construction business unit in 2005, the company Enak undertook the construction of the Zarife Aliyeva Eye Hospital in Baku, Azerbaijan in the last quarter of 2006. Enak has partnered with reputable European contractors for the architecture of this project.

The Hospital was successfully built and handed over to the Ministry of Health of Azerbaijan in the second quarter of 2009. Zarife Aliyeva Eye Hospital has a unique architecture and is now one of the signature buildings and largest hospitals in Baku.

Enak has a core in-house construction and management team with decades of civil, electrical and mechanical engineering expertise. Aside from Turkey, Enak is active in the Azerbaijan and Russian construction markets.

Enak is focused on Building and Premises works such as hospitals, hotels, schools, and residential and commercial estates.

Enak and Aksoy Holding also undertake Motorway, Dam and Hydro Electric Power Plant, and Irrigation and Water Supply projects. Traditionally, Enak/Aksoy Holding partners with Cengiz Construction/Cengiz Holding, one of the most prominent and largest construction companies in Turkey and in the world. Cengiz Construction’s field of expertise are; Motorways, Bridges, Tunnels, Dams and Hydro Electric Power Plants, Airports, Harbours, Subways, Railways, Power Plant and Energy, Irrigation and Water Supply, Communication Infrastructure, Rehabilitation and Landscaping, Hotels, Building and Premises Works. Cengiz Construction has a very experienced labor force and a construction machinery park worth app. USD 100 million, mainly used for infrastructure projects. Total ongoing projects of Cengiz Construction has reached USD 7 Billion as of 2009-end.

The first project jointly undertaken by Enak/Aksoy Holding and Cengiz Construction was the Vayxir Dam and Irrigation Canals. Vayxir Dam in Nahcivan region of Azerbaijan was constructed for irrigation purposes, accompanied by an irrigation canal with a total length of 60 km and a 5 MW power plant. The construction of Vayxir Dam and irrigation canals had started in early 2003 and finished in 2005.

Some of the recent major projects jointly undertaken by Cengiz Construction and Enak/Aksoy Holding are Shemkirchay Dam and HEPP, Velvelechay-Takhtakorpu Irrigation Canals, and Takhtakorpu-Ceyranbatan Irrigation Canals.

The primary purpose of Shemkirchay Dam and HEPP construction is to perform irrigation in the amount of 260 million m3 on average in irrigation season, and to generate 56.3 GWh power annually by establishing a power plant at an installed capacity of 24 MW, utilizing height and flow of reservoir. Each of the six power plant units will have a capacity of 4073 KW. The height of the clay cored gravel fill dam is 148 m. The project contains 3.3 million m3 excavation clay core, 16.7 million m3 gravel fill, 21.3 million m3 embankment fill, and 85,650 m3 concrete works.

The Velvelechay-Takhtakorpu Canal starts at app. KM: 50+000 (from Velvelechay River) of existing Samur-Absheron Canal from river Velvelechay and lies about 130 km north of city of Baku up to Takhthakorpu settlement of Devechi district. It is a new canal to be constructed to carry about 75 m3/sec of freash water. The total length of the canal with structures is about 31.5 km.

The Takhtakorpu-Ceyranbatan Canal starts at Takhtakorpu Water Reservoir app. 85 km. from the river Velvelechay and lies about 20 km north of Baku up to Ceyranbatan settlement of Sumgait district. It is a new canal to be constructed to carry about 40 m3/sec of fresh water. The total length of the canal with structures is about 110 km.