Turkish developer Epit aims to transform Biala Podlaska military air base

Turkish development company Epit, which is the main shareholder of Korporacja Rozwoju Wschod-Zachod will begin the airport and economic zone project in Biala Podlaska. The project will cost $2.3 billion and beginning in 2006 should produce turnover of $3.5 billion. The project will adapt the military air base in Biala Podlaska for civil use, which will include building cargo and passenger terminals, a water park, trade and entertainment centers, sport facilities, hotel and also a housing development. Epit president Vahap Toy is hoping for tax breaks for example by the government making the area a Special Economic Zone (SSE) and promises that work will begin next year and should finish by 2004. "It seems that most of the planned investment will be prepared for very rich Russian citizens, because otherwise the project will never pay-off," said Steen & Strom real estate consultant Wiktor Rodziewicz. (Puls Biznesu, page 1, 3) M.M.