New Era at Tekfen Off to a Fast Start: TRY 54.4 Billion Project and New CEO

Following the transfer of majority stake in Tekfen Holding to ON Investment B.V., controlled by OYAK, a new era has begun at the company. Levent Kafkaslı, who brings extensive experience from his long tenure at Tekfen, has been appointed to the position of Group Companies President (CEO). The first significant operational step of the new era was the Pursaklar-Esenboğa Rail System Line project, valued at TRY 54.4 billion, won by Tekfen İnşaat in partnership with Fernas İnşaat.

Following the transfer of its majority shares to ON Investment B.V., controlled by OYAK, Tekfen Holding has made changes to its senior management in line with long-term growth, transformation and value creation objectives. Levent Kafkaslı has been appointed as Group Companies President, replacing Namık Ülke, who has served as CEO since October 2025.

70 years of experience meets new era vision
Murat Yalçıntaş, General Manager of OYAK and Chairman of the Board of Tekfen Holding, stated that in this new era, which brings together Tekfen's 70 years of corporate experience with OYAK's value creation vision, human resources, corporate culture and operational discipline will be priority areas.

Yalçıntaş emphasized that Levent Kafkaslı is a manager who knows Tekfen well and has gained significant experience in international projects, adding that the new management approach will be shaped by transparency, accountability and alignment with Tekfen's long-term interests.

In the new era, it is targeted to combine the production, logistics and free zone capabilities of Tekfen Agricultural Industry Group with OYAK's competencies in agriculture, logistics and energy sectors.

First major step of new era: TRY 54.4 billion rail system project
The Pursaklar-Esenboğa Rail System Line Construction and Electromechanical Systems Supply, Installation and Commissioning tender, which Tekfen İnşaat participated in through a partnership with Fernas İnşaat, was won with a bid value of TRY 54.4 billion (excluding VAT).

The project is considered an important step in transferring Tekfen's engineering and contracting experience from abroad to large-scale infrastructure investments in Turkey.

Yalçıntaş stated that the TRY 54.4 billion project represents the first major operational success of the new era, highlighting it as a concrete result of strong partnership structure and strategic approach.

Long-term value target through OYAK-Tekfen partnership
Emphasizing that the new partnership structure is not merely a share transfer, Yalçıntaş noted that the combination of OYAK's financial strength and capital discipline with Tekfen's asset quality and international project experience will create significant synergy.

In the new era, the goals are to more effectively leverage competencies in agriculture, industry, engineering, energy and logistics; strengthen operational discipline; ensure efficient use of resources and support sustainable growth.

Who is Levent Kafkaslı?
Levent Kafkaslı graduated from the Civil Engineering Department of Istanbul Technical University in 1987 and completed his master's degree at Istanbul University's Construction Management Department. He began his career in 1990 as a field engineer at Tekfen İnşaat in Saudi Arabia, and subsequently held senior positions in various projects in Azerbaijan, Kazakhstan and the Caspian region.

Between 2013 and 2019, Kafkaslı served as General Manager of Tekfen İnşaat ve Tesisat A.Ş., and from 2019 to 2022, he served as Head and Deputy Head of Tekfen Holding Contracting Group. In 2022, Kafkaslı became a Board Member of Gap İnşaat A.Ş., and as of 2023, he also took on the role of General Manager (CEO) of the company. He also served as a Board Member of the Turkish Construction Industry Employers' Association and previously as a Board Member of IPLOCA.