Announcement
Date
: 26 May 2014
Subject : New project (AZFEN)
Tekfen Construction and Installation Co. has a 40% share in Azfen JV, which in turn entered an
equal-share partnership with Italian Saipem for the construction of a natural gas pipeline project
in Azerbaijan and Georgia as part of the Shah Deniz Phase 2 investments for a total cost of
USD735 million. The project contributes approximately USD147 million to Tekfen
Construction’s current backlog through the company’s share in Azfen.