The vision is clear: Türkiye is on track to produce its own high-speed trains by 2028 and become a global transportation leader by 2053. And right now, a unique €12 billion medium-term opportunity is knocking – the potential acquisition of Spanish rail giant Talgo. This is a chance Türkiye really shouldn’t miss.
Here’s the executive snapshot:
- Talgo’s potential acquisition price is around €0.619 billion.
- Türkiye’s own high-speed train needs by 2035 are estimated at a whopping €12 billion, according to official reports.
- Think about it: this could mean meeting 100% of our needs for potentially just 5% of the total projected cost. That’s smart!
The author, Yiğit Belin, even shares a little cultural insight from his time in Spain, noting how both Turks and Spaniards use the phrase “Ya Veremos” (We’ll see). But this Talgo situation might just be the moment to move beyond “we’ll see” and take decisive action!
The Talgo Story: A Strategic Asset Up for Grabs
So, what’s the deal with Talgo? This renowned Spanish company, a giant in rail systems, recently received a €619 million buyout offer from Hungary’s Ganz-Mavag Europe. Although Talgo’s owner, Trilantic, was open to the deal, the Spanish government stepped in and blocked the sale. Why? Because of concerns about Ganz-Mavag’s links to an embargoed Russian railway company, Transmash Holding. This shows just how strategically important the Spanish government considers Talgo.
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Who Exactly is Talgo?
- Founded way back in 1941 by José Luis de Oriol and Alejandro Goicoechea, Talgo (which stands for Tren Articulado Ligero Goicoechea Oriol) is a pioneer in light and high-speed train technologies.
- They’re a big name in Europe, supplying major players like Germany’s Deutsche Bahn (DB) and Denmark’s DSB.
- Their reach extends to Egypt, and they’re even innovating with a new generation of hydrogen-fueled trains.
- While 2022 saw a 15.5% dip in revenues (net profit of €1.4 million), largely due to rising raw material prices and global supply chain hiccups, the company is resilient.
- In fact, Talgo boasts an impressive order backlog of €2.7 billion.
- It’s no wonder everyone’s interested! Companies from Poland (Pesa), Spain/Basque Country (Sidenor), India (Jupiter Wagons), Switzerland (Stadler), and the Czech Republic (Skoda) are all eyeing Talgo.
Türkiye’s Golden Opportunity: Meeting a €12 Billion Need Strategically
“Everyone is after Talgo, what about us?” the document asks. It’s a critical question because, according to official reports, Türkiye needs 643 high-speed trains, locomotives, and electric train sets by 2035. Crunching the numbers with average railway market prices, this need translates to roughly €9 billion.
But wait, there’s more! Our Minister of Transport, Mr. Abdülkadir Uraloğlu, has announced the ambitious Ankara-Istanbul very high-speed train project. Consultations are already underway for this massive undertaking. The turnkey cost for this project alone is estimated by different institutions to be anywhere between €6 billion and €19 billion. Let’s take an average estimate of €12.5 billion for this project and earmark €3 billion of that for the very high-speed train sets themselves
