ATA GROUP

Ata İnşaat Sanayi ve Ticaret A.Ş.

(Ata İnşaat) was established on October 24,1983 with the participation of three highly experienced and prominent contractors in the construction industry. These three companies, Seri İnşaat, Palet İnşaat and Enerji-Su İnşaat, with shares of 35%, 35% and 30% respectively, had successfully participa ted in the development of the new infrastructure in Turkey. This joint venture was initiated to participate in the international tender of the Atatürk Dam and Hydroelectric Power Plant (HEPP), which attracted numerous internationally known contractors. Wisely, and deservedly so, this gigantic contract was awarded to these partners and subsequently became known as Ata İnşaat. It is solely composed of Turkish contractors in contrast to other participating concerns which had at least one foreign contractor in the joint venture.

Atatürk Dam is the key project within the Southeastern Anatolian Project (GAP) and has been listed in international construction publications as the world's largest construction site. With a primary body of 84 million cubic meters, this incredible dam was completed in approximately 50 months, classifying its construction as a world record-setter. The Atatürk Dam and the HEPP, with a capacity of 8x300 mW, began generating power in 1992. Since then almost 50 billion kWh of electrical energy has been produced. The total cost of the project was approximately US$ 1.25 billion.

    Ata İnşaat, intent on utilizing the vast experience gained during the GAP project, participated in numerous international tenders such as the new Hong Kong airport, Ghazi Barotha project in Pakistan and 1,000 mW Karum 4 Dam in Iran and was subsequently awarded the construction of a dike in Jordan for the Arab Potash Company. This project, originally budgeted at US$ 33 million, was successfully completed and turned over to the project owner. Having demonstrated its diligence and potential in the primary phase of this undertaking, Ata İnşaat was awarded the second phase, worth US$ 30 million, without any competitive bidding. Currently, there are about 200 Turkish workers in Jordan engaged in the completion of this endeavor.

    Under the Build-Operate-Transfer (BOT) model, the construction of two new dams and HEPP projects were awarded to Ata İnşaat in 1998 by the Ministry of Energy and Natural Resources. Upon completion of the arrangements for raising international financing for these two projects, construction will commence in 1999. Also, negotiations are underway with Stone Webster of the USA, which was awarded the Konaktepe Project from the Turkish State Water Works (DSI) to form a joint venture and undertake the contract. This project consists of building a dam and an adjacent HEPP with 138 mW capacity on Munzur River in Tunceli Province. The height of the dam will be 118.5 meters. Ata İnşaat will be the civil contractor for the project whose estimated cost would be approximately US$ 350 million.

    In addition, construction of 120 residential units at ‚amlıca was begun on land owned by the Company. The project is slated for completion by the first quarter of 2001.