Bosphorus crossing updates

A group of seven banks is to fund the construction of the third Bosphorus Bridge crossing in Turkish commercial centre Istanbul. A group of six Turkish banks, Garanti Bankasi, Halk Bankasi, Is Bankasi, Vakiflar Bankasi, Ziraat Bankasi, and Yapi Kredi Bankasi, is being joined by the Netherlands-based Garantibank International to provide the necessary US$2.3 billion of funding required for the project. A joint Italian-Turkish consortium comprising Astaldi and IC Ictas will build the bridge, which will reduce
November 29, 2013 Read time: 2 mins
The new Bosphorus Bridge crossing at Istanbul will heal reduce the city’s chronic congestion issues
A group of seven banks is to fund the construction of the third Bosphorus Bridge crossing in Turkish commercial centre Istanbul.

A group of six Turkish banks, Garanti Bankasi, Halk Bankasi, Is Bankasi, Vakiflar Bankasi, Ziraat Bankasi, and Yapi Kredi Bankasi, is being joined by the Netherlands-based Garantibank International to provide the necessary US$2.3 billion of funding required for the project. A joint Italian-Turkish consortium comprising 1324 Astaldi and 3015 IC Ictas will build the bridge, which will reduce congestion in and around Istanbul.

The two existing bridges over the Bosphorus Strait suffer severe congestion at peak periods and this new structure will help reduce delays and journey times for drivers. Meanwhile, a series of upgrades are planned for the two bridges crossing the Bosphorus at Istanbul. A series of structural renovation works will be carried out. The work is due for completion in 2014 and includes the replacement of 236 cable sections. The tender for the work is now open to entrants although it has been closed to consortia.

For more information on companies in this article

Related Content

  • New Midtown Tunnel open in Virginia
    January 30, 2017
    A project to construct the second Midtown Tunnel link in the US state of Virginia alongside the original connection has taken an important step forward – Mike Woof writes Commuters in the US state of Virginia will be pleased that the new Midtown Tunnel is now open to traffic, as it will help to boost capacity and cut congestion on the busy US 58 route connecting Norfolk and Portsmouth. The 1.13km tunnel link has been built to link with the interchange at Brambleton Avenue and Hampton Boulevard in Norfolk
    Read More
  • Washington DC’s historic bridge replacement project
    June 11, 2019
    The project to replace a historic bridge in US capital Washington DC is providing major challenges for its builders - Mike Woof writes
    Read More
  • Turkish birdge/highway concession package reopens?
    March 20, 2012
    Despite the recent failure of the Turkish Government’s tender for the project to build a third bridge over the Bosphorus, the deal may yet go ahead. Japanese firms Itochu, Obayashi, IHI and Mitsubishi have revealed that they are still interested in constructing a third bridge over the Bosphorus at Istanbul, as well as constructing the associated tolled highway.
    Read More
  • Two new tunnel links for Turkey
    August 28, 2013
    Two new tunnel connections in Turkey will improve transport in key areas. The new Kemerhisar-Pozanti Highway features tunnels along its length and this key route will improve connections between the country’s capital Ankara and its commercial centre Istanbul as well as to the south-east of the country. The highway will have wider benefits too as it will allow better transportation through Turkey between Europe and the Middle East. And in the busy port city of Izmir, the new Konak Tunnel will reduce jour
    Read More

Highlighted Content