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22.Jun.08
There are fears in Turkey that a contract with the construction firm building Galatasary’s new 52,00 seater stadium in Istanbul may be cancelled. Building work has been slow and the Housing Development Administration (TOKI) believe that the contractors have not been meeting the schedule.

Hürriyet reported on what the president of Turkey’s Housing Development Administration (TOKI), Erdogan Bayraktar said this week:

Bayraktar said. “We don’t have the luxury for an alternative. In such a situation, we must cancel the contract,” the TOKI president told a gathering of reporters in the southeastern town of Batman.

“The work program did not comply and if the company does not make the necessary adjustments, a second warning notice would be sent in the first week of July. After the second notice, the company has 20 days to comply before the tender contract is cancelled at the end of the month. There is no problem if the contract is canceled, as a new tender for the construction project will be held within 14 days.”

According to the requirements of the TOKI administration, if the conditions of the tender agreement are not met by a construction company, an initial warning notice is forwarded to the firm, who must then make the necessary adjustments. Such a warning notice can lead to the cancellation of a construction agreement if the necessary conditions continue to fail to be met.

Source & Full Article: Hürriyet

See also:
Ali Sami Yen Stadium on sportingsights.com
Galatasaray FC official website