TDİ Incurred a Loss of 90 Million

The Turkish Maritime Enterprises (TDİ) suffered a financial loss of 90 million TL due to irregularities in the privatized ports of Giresun, Rize, and Hopa, as revealed by a Court of Accounts report.

The Court of Accounts report unveiled financial irregularities in the income-sharing agreements of privatized Giresun, Rize, and Hopa ports, resulting in a loss of approximately 90 million TL for TDİ.

According to CHP İzmir MP Atila Sertel, the companies that took over the ports set up subcontractor firms to avoid paying revenue shares to TDİ, leading to significant financial discrepancies.

• The report highlights that the ports' management, appointed by the government, failed to fulfill their duties, allowing the fraudulent practices to continue since 2015.
• The Giresun Port operator allegedly underreported revenues by issuing high-value invoices through subcontractors, leading to a revenue shortfall of $445,897 in 2019 alone.
• The Rize Port operator was found to have used similar practices, with subcontractors receiving lower invoices to conceal actual revenues, resulting in unpaid TDİ shares totaling $1,878,497 between 2015 and 2019.
• Hopa Port's operator admitted to financial discrepancies and later paid the missing TDİ shares amounting to $696,683, whereas Giresun and Rize ports have yet to settle their dues.
• The report calls for stricter oversight of port management to prevent further financial losses and urges TDİ representatives to closely monitor compliance with privatization agreements.