Talk:Izmir Demir Celik

2011 Annual report http://www.izdemir.com.tr/pdf/file/31.12.2011_en.pdf page 80

2. An agreement amounting to USD 222,9 million has been signed with CMEC (China Machninery Engineering Corporation) on April 2, 2011 regarding to the main imported equipment of the energy production facility based on imported coal with 350 MW power established by the related party of the Company >zdemir Enerji Elektrik Üretim A.S. Investment scheduled to complete by 2014 will be realized in the scope of incentive certificate amonted TRY 475 Million which includes VAT and Customs Duty exemption. 3. A loan agreement amounted TRY 280 million USD signed between the subsidiary company >zdemir Enerji Elektrik Üretim A.S and Turkey Garanti Bank A.S. on April 8, 2011 4. >zmir Demir Çelik Sanayi A.S. stands as a guarantor for the signed credit for the loan agreement. 5. Shares in the related party >zdemir Enerji Elektrik Üretim A.S.owed by the Company, TRY 1 worth 1,000 unit A Group ( 600 unit >zmir Demir Çelik Sanayi A.S., 250 unit Sahin Koç Çelik Sanayi A.S., 100 unit >DÇ Liman >sletmeleri A.S., 49 unit Akdemir Çelik Sanayi ve Ticaret A.S. and 1 unit Halil SAH>N) and 65,624,000 unit B Group nominative and each of them amounted to TRY 1 nominal valued a total of 65,625,000 unit nominative share on behalf of Türkiye Garanti Bankası A.S. pledge has been established in the first degree. The pledge transaction on the behalf of the same bank of 23,025,000 unit share added to the >zdemir Enerji Elektrik Üretim A.S. capital will be realized. 6. There have been lawsuits filed to annul and cancel the “Production License” issued by Energy Market Regulatory Authority and “EIA” decision by Ministry of the Environment and Forestry for “>zdemir Power Plant Project-2” to be established in Aliaga, >zmir. Details of the related lawsuits are stated in the items g, h and i of “Note 22 - Provisions, Conditional Liabilities And Assets.