IC Ictas-Astaldi close financing for third Istanbul bridge
Bosphorus Bridge in Istanbul. TurkeyA consortium formed by Turkey's IC Ictas and Italy's Astaldi has signed a deal with Turkish banks for a nine-year, $2.3 billion loan for the construction of the North Marmara Highway Project that includes the construction of the third bridge across Istanbul's Bosphorus Strait.
Turkish banks Isbank, Yapi Kredi, Vakifbank, Garanti, Halkbank, Ziraat Bank and Garanti Bank International NV will provide the loan.
The North Marmara Highway Project involves 414 km (257 miles) of roads looping north of Istanbul and a third bridge across the Bosphorus.
?çta? ?n?aat - Astaldi won the bid by proposing plans to complete the project in the shortest period of time, 10 years, two months and 20 days, while its only final challenger, the Cengiz ?n?aat - Kolin ?n?aat-Limak-Makyol ?n?aat-Kalyon ?n?aat Consortium, submitted a much longer time-frame of 14 years, nine months.
The third bridge over the Bosporus will measure 1.3 kilometres and connect Asia and Europe north of Istanbul. It will have four lanes in each direction and aims to reduce the traffic of Istanbul (a 13 million inhabitants megalopolis), linking Europe with the Caucasus, the Middle East and the Far East.
Country news
-
-
September 11, 2013
Mott Macdonald appointed lenders' technical advisor for Istanbul Ikitelli health campus
Mott MacDonald has been named lenders' technical and environmental advisor on the development of the 2,682 capacity Istanbul Ikitelli Integrated Health Campus in Turkey. Read more -
October 14, 2013
Mott MacDonal appointed lenders' technical advisor for North Marmara highway
Mott MacDonald has been named lenders' technical advisor by the IC Ictas-Astaldi (ICA) consortium for a 60km section of the Northern Marmara motorway in Turkey. This is the first of a number of phases of the motorway and is being delivered under a 10 year, US$2.5 billion public-private partnership (PPP). Read more -
October 15, 2013
Turkey launches tender process for Port of Derince concession
The Turkish State Railways (TCDD) has launched a tender process to put in private hands the operation of the Port of Derince in the province of Kocaeli with a 36-year contract, according to an announcement in the Turkish Official Gazette. Read more -
October 22, 2013
Turkey launches tenders for four marinas
Turkey's Transport Minister Binali Y?ld?r?m said October 16th that the government was planning to launch tenders for four marinas soon, which would raise the total berth capacity for yachts to 19,000 in Turkey. Read more -
December 06, 2013
Dentons hires competition team with PPP focus in Turkey
Dentons Europe has strengthened its Istanbul presence with a new competition team from ACTECON, a Turkish consultancy business. Read more
