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

  • Improving a key route through Florida
    November 9, 2015
    Upgrading a key route through Florida – novel construction techniques are helping widen a road in difficult geological conditions – Lucio Garofalo reports. A major road widening project underway in Florida is due for completion soon. The work will improve an important section of road, reducing congestion at peak period and cutting travel times for drivers. The US 331/SR83 highway runs for some 79km and provides an important link in Florida’s Panhandle area, as it connects with Route 98.
    Read More
  • New bridge link needed for Cape Cod
    October 9, 2019
    New bridge links are needed for Cape Cod, in the US state of Massachusetts.
    Read More
  • CT Ictas and Astaldi submit complaint over Peljeski Bridge award
    February 14, 2018
    Croatian media are reporting a dispute between two consortia and that of the China Road and Bridges over the Peljeski bridge project. Croatia’s national roads company Hrvatske Ceste chose China Road and Bridges but the decision is being challenged by a consortium led by the Italian firm Astaldi and one by Turkish CT Ictas. The two consortia submitted their complaints to the Croatian State Commission for Control of Public Ordering Processes in January only days after similar action by another consortia led
    Read More
  • Romanian road revamp
    April 30, 2012
    Romania's long planned highway expansion programme is finally gathering pace. Funding for the projects has been provided but although many feasibility studies had been carried out, little work had been carried out until now.
    Read More

Highlighted Content