Financing found to fund building Bosporus Bridge

A group of seven banks is to fund the construction of the third Bosporus Bridge crossing in Turkish commercial centre Istanbul. A group of six Turkish banks, Garanti Bankasi, Halk Bankasi, Is Bankasi, Vakiflar Bankasi, Ziraat Bankasi, and Yapi Kredi Bankasi, is being joined by the Netherlands-based Garantibank International to provide the necessary US$2.3 billion of funding required for the project. A joint Italian-Turkish consortium comprising Astaldi and IC Ictas will build the bridge, which will reduce c
September 9, 2013 Read time: 1 min
A group of seven banks is to fund the construction of the third Bosporus Bridge crossing in Turkish commercial centre Istanbul. A group of six Turkish banks, Garanti Bankasi, Halk Bankasi, Is Bankasi, Vakiflar Bankasi, Ziraat Bankasi, and Yapi Kredi Bankasi, is being joined by the Netherlands-based Garantibank International to provide the necessary US$2.3 billion of funding required for the project. A joint Italian-Turkish consortium comprising 1324 Astaldi and 3015 IC Ictas will build the bridge, which will reduce congestion in and around Istanbul. The two existing bridges over the Bosporus suffer severe congestion at peak periods and this new structure will help reduce delays and journey times for drivers.
Finance & Funding Road Structures

For more information on companies in this article

Related Content

  • Kenya rehabilitates, widens, tolls Northern Corridor
    November 8, 2017
    A massive highway project in Kenya will boost transport for the country as well as its neighbours - Shem Oirere reports. Kenya has commenced the process of rehabilitating, expanding and tolling of 657km of East Africa’s Northern Corridor that is anchored on the Indian Ocean port of Mombasa and which links the gateway with landlocked countries of Uganda, Rwanda, Burundi and parts of eastern Democratic Republic of Congo (DRC).
    Read More
  • Dragados among six in the running for fourth Panama bridge deal
    August 23, 2016
    All six consortia that submitted documents in May to design and build a fourth bridge over the Panama Canal have pre-qualified, according to media reports. The companies officially vying for the estimated US$1 billion contract are: • Dragados • Consorcio CCB: Constructora Norberto Odebrecht, Odebrecht Engenharia e Construcao International • Consorcio Hyundai, Sacyr JV • Consorcio Astaldi – Daelim • Consorcio Panamá Cuarto Puente: China Communications Contruction Company, China Harbour Engi
    Read More
  • Virginia highway project awarded to joint venture
    November 7, 2017
    A major highway project in the US state of Vriginia has been awarded to a joint venture team comprising Granite Construction, Parsons Corporation, and Corman Construction. The firms will handle the Interstate 64 (I-64) Southside Widening and High Rise Bridge, Phase 1 design-build contract, which was awarded by the Virginia Department of Transportation. Construction work for the US$410 million joint venture project is scheduled to commence in November 2017 and should be completed in July 2021.
    Read More
  • Washington DC’s historic bridge replacement project
    June 11, 2019
    The project to replace a historic bridge in US capital Washington DC is providing major challenges for its builders - Mike Woof writes
    Read More

Highlighted Content