Izmir, Turkey motorway project set to be delayed by at least 18 months

The construction of the Istanbul-Izmir motorway in Turkey is set to be delayed by at least 18 months due to insufficient funds being in place to complete the major new highway. Turkey's Transport and Communication Minister Binali Yildirim has warned the Nurol-Özaltn-Makyol-Astaldi-Yüksel-Göçay joint venture, who are responsible for the construction of the motorway, that it will be in breach of the project’s contract, signed in October 2010, imposing a strict completion deadline of five-and-a-half years.
December 20, 2012 Read time: 1 min
The construction of the Istanbul-Izmir motorway in Turkey is set to be delayed by at least 18 months due to insufficient funds being in place to complete the major new highway.

Turkey's Transport and Communication Minister Binali Yildirim has warned the 3338 Nurol-Özaltin-3340 Makyol-1324 Astaldi-4149 Yüksel-3342 Göçay joint venture, who are responsible for the construction of the motorway, that it will be in breach of the project’s contract, signed in October 2010, imposing a strict completion deadline of five-and-a-half years.

So far, US$500 million (€382.34mn) has been spent from the equity capital for the Istanbul-Izmir motorway works.

For more information on companies in this article

Related Content

  • Gordie Howe Bridge opening date set
    January 15, 2024
    The bridge connecting Detroit in the US state of Michigan and Windsor in the Canadian province of Ontaria will open in September next year.
    Read More
  • Haulotte wraps it up at Turkey’s Osman Gazi Bridge
    July 5, 2016
    French access group Haulotte and the Turkish access distributor and rental group Acarlar continue to contribute to major infrastructure projects in Turkey, including the new Osman Gazi Bridge. The bridge – the third Bosporus crossing - has just been completed with the installation of the last bridge deck. The bridge will reach a height of 252m and the bridge deck will be nearly 26m wide. When it soon opens, the bridge will be the fourth longest suspension bridge in the world by the length of its central
    Read More
  • New Bosporus crossing construction commencing
    June 3, 2013
    Work to construct the new Bosporus crossing in Turkey is now underway. This will be Istanbul's third bridge over the Bosporus and is aimed to open for traffic within two years. Construction is being carried out by a consortium that includes Italian company Astaldi and Turkish firm IC Ictas. The project is expected to cost in the region of US$5.83 billion. The bridge will carry eight highway lanes as well as two rail lines. When complete it will be longest suspension bridge in the world that carries rail lin
    Read More
  • Smart motorway project for UK’s M3
    July 23, 2014
    Balfour Beatty is to work on a €163.5 million (£129 million) upgrade project for a 21.4km stretch of the M3 motorway in the UK. The work involves upgrading the route to smart motorway status and is being carried out for the UK Government’s Highways Agency. This project will increase capacity, reduce congestion and shorten journey times for the 120,000 motorists/day using the route. This section of the motorway runs through the counties of Hampshire and Surrey, between Junction 2 which is interchange with th
    Read More

Highlighted Content