November 24, 2017 / 12:23 PM / 2 years ago

Turkey calls five companies to bid on national tank project engine

ISTANBUL, Nov 24 (Reuters) - Turkey’s Defence Industry Undersecretary (SSM) on Friday called on five companies to bid on a project to develop its national Altay battle tank’s engine.

In a statement on its website, the SSM said the companies were called to submit their bids for the Altay tank’s “Power Group Development Project”, which focuses on its engine.

The companies, including the public engine maker Tumosan as well as BMC Otomotiv, Figes Fizik, Istanbul Denizcilik and Tusas Motor, will start work on the engine if selected.

Tumosan shares traded 1.8 percent higher at 7.18 lira ($1.82) by 1146 GMT.

Turkey has been working to develop its own defence systems and equipment, and has lined up several projects for the coming years, including combat helicopters, tanks, drones and more.

On Wednesday, Defence Minister Nurettin Canikli said Turkey has received bids to mass produce 500 Altay tanks, of which 250 were optional, and added that the tender would be finalised in the coming days.

The Altay tank project, led by the Turkish commercial and military vehicle producer Otokar, is worth an estimated 7 billion euros ($8.30 billion). ($1 = 0.8434 euros) ($1 = 3.9395 liras) (Reporting by Ceyda Caglayan; Writing by Ezgi Erkoyun; Editing by Tuvan Gumrukcu)

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