Turkish bridge deal finalised

A key Turkish bridge asset deal has been finalised.

By MJ Woof March 30, 2020 Read time: 1 min

The concession for Turkey’s Third Bosporus will now be handled 100% by ICTAS - image © courtesy of ICTAS

An agreement has been finalised over the sale of a share in a key Turkish bridge connection. The Italian firm Astaldi is to sell its share in the concession package for the Third Bosporus ridge to Turkish firm ICTAS.

The two companies set up a partnership agreement to build the bridge and then manage the concession to operate the link. However, ICTAS is now to operate the concession on its own. The price agreed was US$315 million. Astaldi will be paid $215 million by ICTAS as the agreement includes $100 million in compensation.

Finance & Funding

New Bosporus crossing construction commencing

Work to construct the new Bosporus crossing in Turkey is now underway. This will be Istanbul's third bridge over the Bosporus and is aimed to open for traffic within two years. Construction is being carried out by a consortium that includes Italian company Astaldi and Turkish firm IC Ictas. The project is expected to cost in the region of US$5.83 billion. The bridge will carry eight highway lanes as well as two rail lines. When complete it will be longest suspension bridge in the world that carries rail lin

September 9, 2013