Turkey may lose $2.3 bn due to its stand against India on Kashmir

Last week at United Nations General Assembly, Turkey President Tayyip Erdogan had raised the issue of kashmir where he criticised India and supported Pakistan on Kashmir issue. Due to this reason, Turkish company may lose $2.3 billion.

Actually Indian company Hindustan Shipyard Limited (HSL) was to make fleet support ships (FSS) collaborating with Turkish company M/s Anadolu Shipyard. This project estimated to cost of $ 2.3 billion but now It is being expected to be put on a hold due to stand of Turkey’s president Tayyip Erdogan on Kashmir.

According to Financial Express report, a senior official confirmed that “The contract for the 45,000-ton fleet support ships (FSS) for the Indian Navy with the Turkish Company could be delayed.”

A senior officer also said to Financial Express, ” It could be a fall out of Turkey cosying up to Pakistan and raising Kashmir issue at the recently concluded 74th United Nations General Assembly (UNGA).”

Actually Indian govt had invited global ship making companies for making five ships for Indian Navy. Turkey’s shipyard company Anadolu Shipyard had qualified for this five ships making project. Seven Global companies were in the race to gain this contract. These seven companies belong to Russia, Turkey, Germany, Italy and Spain. At the end, only 3 companies qualified including Turkey shipyard company.

But after the Turkey’s President Tayyip Erdogan statement about Kashmir at UNGA, It is now quietly clear that Turkey’s Shipyard company may lose this deal of $ 2.3 billion.

Talking about Kashmir issue at UNGA, Turkey President Tayyip Erdogan said, “In order for the Kashmiri people to look at a safe future together with their Pakistani and Indian neighbors, it is imperative to solve the problem through dialogue and on the basis of justice and equity, but not through collision.”

He further said, “Despite the resolutions adopted, Kahsmir is still besieged and eight million people are stuck in Kashmir.”

Pakistan Prime Minister Imran Khan thanked Turkey’s President Erdogan for supporting Pakistan

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