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

  • Cables up for Romania’s Brăila Bridge
    June 16, 2021
    The Astaldi and IHI Infrastructure Systems joint venture reports that work will soon start on the road deck for Romania’s Brăila Bridge.
    Read More
  • Legal battle for Croatia’s Peljeski Bridge contract continues
    April 19, 2018
    Only days after Croatia rejected initial complaints, contractors Astaldi, Ictas and Strabag said that they will submit new complaints over the Peljeski bridge winning bid. Croatian media report that Turkey's Ictas, Italy's Astaldi and the Austrian company Strabag are planning to submit a new complaint to the Croatian High Court against a decision by the state procurement authority DKOM to reject their previous complaints. At issue is the awarding of the Peljeski bridge and access roads project to the
    Read More
  • Key Turkish bridge tender open
    February 20, 2012
    The tender process for Turkey's third Bosporus Bridge project is now open.
    Read More
  • UK’s Silvertown Tunnel project facing legal dispute
    August 22, 2019
    A legal battle is facing the UK’s Silvertown Tunnel project. A consortium called STC and comprising Dragados and Hochtief is presenting a legal case over the project. According to STC, there are issues over the way in which the preferred bidder for the work has been selected. The work is for a new tunnel under the River Thames in the east of London. The project is expected to cost £1 billion. The Riverlinx consortium is currently the preferred bidder. Building the tunnel will help reduce congestion. The
    Read More

Highlighted Content