Chairman's Foreword

Ünal Aysal

Starting from first steps of Unit, our goal was always to make business deals based on strong confidence relationships that will endure even through difficult times of any economic or political turbulence. When we started our initial transactions in early 80’s with Iran, we felt that the country was offering very strong opportunities for companies who are willing to be patient and persistent while offering a good value for the business. In this respect, we cooperated with our Iranian counterparts in order to respond to the needs of the country during the Iran-Iraq war time. We worked together and designed structured transactions of oil trade by way of bilateral agreements to supply the steel that Iran needed to reconstruct its cities. Three successful transactions were realized with 175 million, 250 million and 200 million USD tranches, which would be equal to several billion dollars today.

Following the end of the war, our company gratefully started to look for other area of cooperation with Iran. As a growing economy, Iran was in need for new power plants to supply the amount of energy its strong industry needed. Unit in collaboration with world multinational companies succeeded to construct and finance four gas fired power plants namely Shariati 250 MW, Fars 740 MW, Shaid Rajaee 740 MW, Montazer Ghaem 700 MW in early 90’s for Iranian Government. Our knowledge and expertise would later be used for the services of the Iranian private sector for investing in the first privately owned BOO model gas fired power plant Rudeshur 750 MW CCGT which is operational since 2007 with very high reliability and performance standards.

Today, we are proud to mention that even during the sanction period we never gave up our old friendship and ties in Iran. Me and my Iranian colleagues went through a difficult period during sanctions but we have always believed that Iran would find its well-deserved place in international business arena. We are confident that Iran will show a great growth story and recuperate the difficult time left behind.

We are a company who has taken a pioneer role in Turkey in early 90’s to structure the first BOT type of power investment of the country. We established partnerships with world’s energy giants to guide them in Turkey for co-investing with us in a state of the art CCGT which is still in operation under a win-win base power purchase agreement with Turkish Government. The new scheme has paved the way for more than 25,000 MW of international energy investment in Turkey. All our knowledge and financing capabilities we accumulated till today are at Iranian Government’s disposal. We started development of CCGT projects amounting in total 5,200 MW in various strategical locations in Iran as well as 800 MW renewable projects requiring more than 6 billion USD of direct foreign investment in Iran. We are confident that, with the support of Iranian authorities the realization of our new projects through structuring international financing, will take place ahead of all the schedules and forecasts. As stated above, our philosophy of making business is to create strong relationships that will be supported by hard work, risk taking and long-term confidence.

Ünal Aysal