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

  • How Florida paved the way for availability payments in the US
    November 21, 2014
    New financing models have been used to deliver key transport links in the US - * Patrick D Harder and Brandon J Davis Florida Department of Transportation’s (FDOT) public-private partnership (PPP) programme has made impressive progress, setting precedents for US transportation planning and funding. On March 26th 2014, FDOT opened 16km of new reversible express lanes as part of its US$1.8 billion I-595 Corridor Roadway Improvements Project. Just a few months later, on August 3rd 2014, FDOT opened twin tunnel
    Read More
  • New Zealand’s massive infrastructure plans
    July 1, 2013
    Plans are in hand in New Zealand for a massive programme of infrastructure works around the country’s largest city, Auckland. The New Zealand Government intends to invest some US$7.8 billion (NZ$10 billion), which will be spent on upgrading existing highway links and building the second Auckland Harbour Bridge. The existing Auckland Harbour Bridge sees heavy traffic flows at peak periods in particular and the new structure is necessary to reduce congestion and cut journey times. The programme of infrastruct
    Read More
  • Talks continue for 2025 Gordie Howe opening
    January 18, 2023
    The tolled six-lane cable-stayed bridge over the Detroit River will connect the city of Windsor in the Canadian province of Ontario with Detroit in the neighbouring US state of Michigan.
    Read More
  • Europe closes in on the crossings
    September 27, 2017
    The Mersey Gateway bridge project off England’s west coast passed a milestone recently with the first joining of two of the deck sections. The key segments, as the sections are called, link the north approach viaduct to the north pylon deck span and are the first of four deck-joins scheduled for this summer. In total, there are five sections of bridge deck and approach roads that need to be joined.
    Read More

Highlighted Content