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

  • Turkey plans major infrastructure improvements
    March 22, 2012
    Turkey recently unveiled ambitious targets towards improving its transportation infrastructure for 2023, the year the country will celebrate its 100th year anniversary as Republic of Turkey. The main means of transportation in Turkey is by highways, and the coach and bus industry has played a crucial role in passenger transportation. The recent increases in the number of airports and charter companies have made travel by plane a potential choice for passengers. However, railways have contributed rather insi
    Read More
  • Turkey plans major infrastructure improvements
    May 3, 2012
    Turkey recently unveiled ambitious targets towards improving its transportation infrastructure for 2023, the year the country will celebrate its 100th year anniversary as Republic of Turkey. The main means of transportation in Turkey is by highways, and the coach and bus industry has played a crucial role in passenger transportation. The recent increases in the number of airports and charter companies have made travel by plane a potential choice for passengers. However, railways have contributed rather insi
    Read More
  • City centre tunnel and traffic management project
    February 21, 2012
    Norra Länken (Northern Link), a 16km highway and tunnel system in the centre of the Swedish capital Stockholm, is one of the country’s largest highway and infrastructure projects.
    Read More
  • Denmark set to appoint preferred bidder for Fehmarnbelt link
    March 14, 2016
    The Danish political parties behind the Fehmarnbelt link have mandated Femern A/S to appoint preferred bidders for the main tunnel work in order to enter into conditional contracts no later than mid-May. Femern A/S is the Danish government-owned company managing the Fehmarn Belt immersed tunnel project between Denmark and Germany. The project was approved by the Danish parliament in April last year. It is supposed to be built, owned - apart from the German land works - and operated by Femern A/S, a su
    Read More

Highlighted Content