Construction mogul IC İçtaş has won the rights to operate the Yeniköy and Kemerköy thermal power plants in the Aegean province of Muğla for $2.671 billion.

IC İçtaş, also the contractor of the third bridge over Istanbul’s Bosphorus and owned by Çeçen Holding, emerged victorious from a fierce auction against the joint venture of Kalyon and Çelikler, placing the highest bid for the two plants, which have a total installed capacity of 1,050 megawatts.