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

  • Highway 407 Revisited – smart tollroad extension
    June 7, 2016
    In the late 1990s, World Highways published a supplement on construction of Canada’s Highway 407, the world’s first all-electronic toll road. But how successful has it been? David Arminas reports from Toronto The head office for 407 ETR Concession Company is a low-rise building next to exit 59, just north of Toronto, Canada’s economic powerhouse. The building may be non-descript but inside is the advanced technical heart of Highway 407 ETR – Express Toll Route. It houses the latest toll monitoring techno
    Read More
  • Design contract for Irish motorway
    March 19, 2019
    The design contract for Ireland’s Cork to Limerick motorway connection has now been awarded. The design package is worth €15 million and is being handled jointly by Irish firm JB Barry Transportation, Swedish company Sweco and WSP based in Canada. Building the 100km stretch of the M20 motorway is expected to cost €900 million, including eight major bridges over rivers, 44 smaller bridges over roads and two bridges over rail links. The work would also include building some small river crossings as well as up
    Read More
  • Kenya port suspension bridge project makes progress
    January 15, 2019
    A new suspension bridge in Kenya’s key port city, Mombasa, will help unlock potential – Shem Oirere reports Plans for the construction of a US$200 million suspension bridge in Kenya heva moved a notch higher. The country's urban roads agency recently announced the shortlisting of three bidders for the design, finance, construct, operate, maintain and transfer public private partnership (PPP) contract model. Kenya Urban Roads Authority (KURA) is a state agency that manages, develops, rehabilitates and mai
    Read More
  • Volvo CE making moves
    June 26, 2025
    Volvo CE is making major moves to boost sales for Europe while selling its stake in SDLG.
    Read More

Highlighted Content