Turkish bridge deal finalised

A key Turkish bridge asset deal has been finalised.
By MJ Woof March 30, 2020 Read time: 1 min
The concession for Turkey’s Third Bosporus will now be handled 100% by ICTAS - image © courtesy of ICTAS

An agreement has been finalised over the sale of a share in a key Turkish bridge connection. The Italian firm Astaldi is to sell its share in the concession package for the Third Bosporus ridge to Turkish firm ICTAS.

The two companies set up a partnership agreement to build the bridge and then manage the concession to operate the link. However, ICTAS is now to operate the concession on its own. The price agreed was US$315 million. Astaldi will be paid $215 million by ICTAS as the agreement includes $100 million in compensation.

Finance & Funding

Related Content

  • Croatia’s Pelješac Bridge to open mid-year
    February 8, 2022
    China’s CRBC started construction on the bridge in 2019 amid concerns by European construction companies of price dumping.
    Read More
  • IHI and Kato joining forces for machines
    October 25, 2016
    A new agreement between IHI and Kato will see the two firms joining their construction machine operations together. IHI Corporation (IHI) announced has agreed to transfer all the shares in its wholly‐owned IHI Construction Machinery business to Kato Works. The move will expand the product line-up for mini‐excavators, crawler cranes and other crawler equipment. All current facilities and network including overseas will remain without major changes for the time being. The two companies will assimilate ove
    Read More
  • Ghana-China road deal settled
    January 28, 2019
    The agreement between Ghana and China over a road construction project has been settled. The deal will see Ghana effectively trading bauxite from a mining operation with a Chinese firm, which will build road links in the West African nation. The deal is called the Sinohydro Bauxite Barter Arrangement and has been set up with Ghana’s Government. Ghana will supply the firm with around 5% of its refined bauxite production under the agreement. Construction work is commencing on the first stage of the project,
    Read More
  • Astaldi expects to close €1.7bn Russian motorway build deal
    May 13, 2014
    Italian civil engineering group Astaldi is expecting to obtain a €1.7 billion contract from Russia that would see them build a 140km stretch of the Moscow-St Petersburg motorway. Astaldi chairman Paolo Astaldi said that the deal for lots seven and eight of the motorway is “probable”. Astaldi is in a consortium with Turkish partner Ictas, with which it has already banked deals in Russia. The contract will be awarded by the motorway concessionaires, VTB and Vinci.
    Read More

Highlighted Content