12 IMM-owned companies featured on the 'Fortune 500 Turkey' list

12 of the Istanbul Metropolitan Municipality's (IMM) subsidiary companies, operating in various sectors, set a record by simultaneously entering the Fortune 500 Turkey list, which identifies Turkey's 500 largest companies. The companies included in the list, which was determined based on 2023 net sales revenue, are İGDAŞ, KİPTAŞ, İSTAÇ AŞ, İSTON AŞ, İSPER AŞ, İSFALT AŞ, İSTGÜVEN AŞ, İstanbul Halk Ekmek AŞ, İstanbul Ağaç ve Peyzaj AŞ, İstanbul Enerji AŞ, Metro İstanbul AŞ, and Kültür AŞ.

OPERATIONS OF THREE COMPANIES

According to the statement made by the IMM regarding the matter, some data concerning three of the companies that entered the list are as follows:

“İGDAŞ is the largest among the subsidiaries in terms of turnover, with a 2023 turnover of 49.4 billion TL. In 2023, an investment of 830 million TL was made. Serving 7.1 million subscribers, İGDAŞ has laid 2.3 million meters of natural gas pipeline in the last 5 years.

KİPTAŞ's 2023 turnover was 6.1 billion TL. Focusing on social housing projects and transformation projects within the scope of 'Istanbul Renews' (İstanbul Yenileniyor) in line with the understanding of social municipalism, KİPTAŞ produced 782 independent units in 2023, consisting of 344 social housing units and 438 urban transformation project units, despite negative market conditions. Between August 2019 and March 2024, it completed and delivered a total of 19 projects consisting of 11 thousand 34 independent units to their rightful owners.

İSTAÇ AŞ's 2023 turnover was 9.5 billion TL. The company, which made an investment of 1.2 billion TL, produced a total of 1.3 million MW of electricity in its waste-to-energy production facilities in 2023.”

News Source: 12punto