Nationalization Of Tunel
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In the following years, Tram company quietly continued their operation but it was nationalized in 1939 with the efforts of Ali Çetinkaya, Minister of Public Works. As a result of the negotiations with the SOFINA group representatives, Ali Çetinkaya managed to nationalize Tram and Tünel companies.  According to the agreement signed with the company representative H. Speciael, Tünel company was acquired for 175.000 lira and Tram company was acquired for 1.750.000 lira by Public Works. Ministry would transfer the operation to İstanbul Municipality after necessary arrangements were made.

A contract has been prepared and signed by Ali Çetinkaya, Minister of Public Works and SOFINA company representative H. Speciael on February 8, 1939.  According to the contract, all primary and secondary concession rights, granted to the company by signing a contract with the government or granted in any other way including contracts, agreements, specifications and amendments, would be transferred to the government, effective on January 1, 1939

In addition to the concession, the company would transfer the government all equipment, Tünel’s all drive equipment, including, boilers and machinery, lines and draw cords, assembly in the garages, workshops, all warehouse and shops, including present coal, oil, any new and old tools and material, any machinery and measurement devices and spare parts, Metrohan located in Beyoğlu, including all assembly, annexes and accessories, all buildings, garages and lands, all furniture, fixtures and equipment items and stationery materials.

 

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