Besiktas cancels new shipyard

The company, which started work on plans to construct the shipyard back in 2008, rented the 320,000 m2 plot of land in the Adana-Yumurtalık Free Trade Zone, according to Muharrem Pusat, director general of the zone.

Besiktas had planned to build the largest maintenance and repair shipyard on the Mediterranean. However, due to the impact of the global economic crisis, the company notified the zone of its decision to cancel investment plans. Pusat said another shipping company, Palyat Denizcilik, also decided to back out of investing in the zone. The move follows the decision of shipping companies Med Marine and Hisarlı Denizcilik which also cancelled plans to invest in the region.