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

  • Turkish highway/bridge project
    March 22, 2012
    In a surprise move the Turkish authorities have now cancelled the tender process for the construction of the third Bosphorus Bridge and the Kuzey Marmara highway. The process was cancelled as there were no bidders.
    Read More
  • Turkey’s Bosporus bridge opening
    August 25, 2016
    Turkey’s Yavuz Sultan Selim Bridge over the Bosporus is having its official opening, which is being carried out by senior members of the country’s government including president Recep Erdoğan. The final sections of the deck structure were put into place in March 2016 and the project, which commenced in 2013, has been completed in record time. This is the third bridge to span the Bosporus at Turkey’s commercial centre, Istanbul and the new crossing will form part of the country’s North Marmara Highway pro
    Read More
  • Major Europe-Asia bridge connection in Turkey
    July 1, 2014
    The 3rd Bosporus Bridge and the Northern Marmara Motorway will improve transport links between Europe and Asia and cut chronic congestion in Istanbul, Turkey’s largest city - Mike Woof reports Work is now well underway on the 3rd Bosporus Bridge and the Northern Marmara Motorway, providing a new link for Turkish city Istanbul and the region as a whole. This enormous bridge and highway project is breaking several records for Turkey in terms of scale, as well as setting a number of international records for e
    Read More
  • Cables up for Romania’s Brăila Bridge
    June 16, 2021
    The Astaldi and IHI Infrastructure Systems joint venture reports that work will soon start on the road deck for Romania’s Brăila Bridge.
    Read More

Highlighted Content