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

  • India’s IRTE wins top Prince Michael of Kent Safety Award
    July 4, 2019
    India’s Institute of Road Traffic Education (IRTE) was among the international winners at the annual Prince Michael International Road Safety Awards in London. IRTE picked up the Premier Award for its road injury prevention programme and for being a key partner in the Safer Cars for India project established by Global NCAP, an independent certification body that evaluates the safety of vehicles. Part of IRTE’s strategy has been the setting up of what is believed to be Asia’s first Masters of Science i
    Read More
  • Cummins sets new quarterly trading record in strong growth period
    November 6, 2023
    Cummins has set a new quarterly net cash from operating activities record of US$1.5bn, a huge rise on the $382mn in Q3 2022.
    Read More
  • Land acquisition delays the start of Bratislava's orbital road
    September 25, 2017
    Land acquisition issues have stalled the start of construction of Bratislava’s orbital road by up to eight months. Work could begin this autumn, according to a report by the Slovak Spectator, because the government is working on laws that would allow construction before all land is acquired.
    Read More
  • NSW Australia investing in transport
    June 20, 2013
    Australia’s New South Wales (NSW) Government has outlined its massive transportation investment in the WestConnex project. This will be the largest urban transport project in the history of New South Wales. Some A$1.8 billion will be invested over four years from Restart NSW, the state’s new infrastructure fund. to finance the WestConnex project. And A$111 million will be committed in 2013-14 to get work underway on the 33km motorway. The NSW Government will fund the initial sections of the motorway. Privat
    Read More

Highlighted Content