TODAY’S – Turkish State Railways posts TL 1.28 bln loss for 2013

Turkish State Railways posts TL 128 bln loss for 2013Turkish State Railways (TCDD) posted a loss of TL 128 billion last year, the largest loss of all the State Economic Enterprises (KIT), according to a report unveiled in Parliament late last week.During the course of a parliamentary budget meeting, it was revealed that TCDDand#39s losses increased 45.

9 percent since 2012, when it lost TL 877.5 million.

The Turkish Hard Coal Enterprise (TTK) posted a loss of TL 558 million, coming in second place behind TCDD as the KIT with the highest losses in 2013. Overall, KITs in Turkey lost TL 38 billion last year Several other KITs reported a high increase in losses last year compared with 2012.

Earlier this year, a high-speed train line opened between Ankara and Istanbul, a highly anticipated and costly addition to Turkeyand#39s rail network that had been marred by delays, accidents and vandalism Another high-speed line between Turkeyand#39s capital and fourth-largest city Bursa has been beset with problems and financial difficulties.The ruling Justice and Development Party (AK Party) aims to build thousands of kilometers of new conventional and high-speed railways in accordance with its 2023 targets for the centennial of the Turkish Republic.

SOURCE: Today’s Zaman