Consortium to provide half of US$ 2.70bn for Turkish motorway

Nurol-Özaltn-Makyol-Astaldi-Yüksel-Göçay consortium says it will provide half of the US$ 2.7 billion required to build Turkey’s new Gebze-Orhangazi-zmir motorway from its own combined funds. The other half of cost will be covered by a bank loan agreement secured by the consortium.

September 27, 2012 Read time: 1 min

3338 Nurol-Özaltin-3340 Makyol-1324 Astaldi-4149 Yüksel-3342 Göçay consortium says it will provide half of the US$ 2.7 billion required to build Turkey’s new Gebze-Orhangazi-zmir motorway from its own combined funds. The other half of cost will be covered by a bank loan agreement secured by the consortium.

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Izmir, Turkey motorway project set to be delayed by at least 18 months

The construction of the Istanbul-Izmir motorway in Turkey is set to be delayed by at least 18 months due to insufficient funds being in place to complete the major new highway. Turkey's Transport and Communication Minister Binali Yildirim has warned the Nurol-Özaltn-Makyol-Astaldi-Yüksel-Göçay joint venture, who are responsible for the construction of the motorway, that it will be in breach of the project’s contract, signed in October 2010, imposing a strict completion deadline of five-and-a-half years.

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