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

  • €2.27bn UK road investment in 2014 to support over 9,500 construction jobs
    November 11, 2013
    Over 9,500 construction jobs will be supported in 2014 by more than €2.27 billion (£1.9 billion) of investment in Britain’s roads, Transport Minister Robert Goodwill announced today. The total investment in 209 schemes is €5.15 billion (£4.3 billion), with the €2.27 billion to be spent in 2014 more than twice the amount being spent this year. Due to either start or be completed in 2014, these road programmes are estimated to boost the economy by over €22.52 billion (£18.8 billion) and are part of a €119.8
    Read More
  • Turkey's new highway
    February 7, 2012
    Work on Turkey's Istanbul-Izmir highway is now in planning. The US$1 billion project will include a radical suspended bridge, said to be one of the longest of its type.
    Read More
  • Algeria signs off two contracts of Hauts Plateaux motorway work
    January 5, 2015
    The Algerian Council of Ministers has approved two contracts for stretches of road on the Hauts Plateaux motorway. No details of the contractors were given for the work that is to link Lambidiri to Draa Lahmar via Ouled Fadhel. Construction is expected to take 18 months. Last March, World Highways reported that work on the 1,000km Hauts-Plateaux motorway project was to begin that month. Construction cost for motorway’s 10 sections was estimated to be around US$8.94 billion, according to Algerian Minis
    Read More
  • Plans in hand for major Ethiopian road programme
    September 22, 2014
    In Ethiopia plans are in hand for a series of major road projects. The Ethiopian Government has set out a programme of road building contracts to expand the country’s transportation network. The Addis Ababa City Roads Authority (AACRA) intends to build 600km of roads in the 2014/2015 fiscal year. This will extend Ethiopia’s road network from 4,671-5,275km. However AACRA still requires some £189.5 million to complete this project. So far AACRA has received US$305 million from Addis Ababa City Administration,
    Read More

Highlighted Content