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

  • Key projects free up Auckland's congested motorway network
    June 14, 2012
    A number of key projects in Auckland, New Zealand will free-up the city’s congested motorway network - Mary Searle reports.Auckland is a sprawling city, home to 1.4 million people, one third of New Zealand’s total population. Until recently, greater Auckland comprised Auckland city, North Shore city over the harbour bridge to the north, Waitakere city to the west and Manukau city to the south. An amalgamation of these various cities’ councils, plus the regional council and three district councils into one,
    Read More
  • Major project to construct landmark Bay Bridge in California
    October 31, 2012
    Iconic California crossing will offer seismic safety – Adrian Greeman reports A unique single-span single-tower suspension bridge is the iconic centrepiece of a dramatic renewal of the eastern Bay Bridge in California, crossing from San Francisco to Oakland. Tourists in San Francisco sometimes mix up their bridges, identifying as the famous Golden Gate, the double suspension bridge which runs across the wide San Francisco Bay. These serially linked bridges in fact form the Bay Bridge east to Oakland whereas
    Read More
  • Building Egypt's world class Desert Highway
    May 3, 2012
    A huge highway upgrade project will transform the Cairo-Alexandria road link into a world-class connection as Mike Woof reports. The work to upgrade the Desert Highway connecting Egypt's sprawling capital Cairo with its major port Alexandria, is one of the country's largest infrastructure projects for many years. This 220km highway link is being widened and improved to cope with the hugely increased traffic volumes resulting partly from Egypt's fast growing vehicle population. The Egyptian economy is strong
    Read More
  • Building Egypt's world class Desert Highway
    April 13, 2012
    A huge highway upgrade project will transform the Cairo-Alexandria road link into a world-class connection as Mike Woof reports. The work to upgrade the Desert Highway connecting Egypt's sprawling capital Cairo with its major port Alexandria, is one of the country's largest infrastructure projects for many years. This 220km highway link is being widened and improved to cope with the hugely increased traffic volumes resulting partly from Egypt's fast growing vehicle population. The Egyptian economy is strong
    Read More

Highlighted Content