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.

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Turkey’s Bosporus bridge opening

Turkey’s Yavuz Sultan Selim Bridge over the Bosporus is having its official opening, which is being carried out by senior members of the country’s government including president Recep Erdoğan. The final sections of the deck structure were put into place in March 2016 and the project, which commenced in 2013, has been completed in record time. This is the third bridge to span the Bosporus at Turkey’s commercial centre, Istanbul and the new crossing will form part of the country’s North Marmara Highway pro

September 21, 2012

New Turkish highway receiving financing

February 2, 2015

Istanbul’s third bridge nearly ready

Work is progressing well in Turkey on the country’s landmark new bridge over the Bosporus. This will be Istanbul's third bridge, with the opening now planned for the 29th October 2015. The construction work is being carried out by the IC Ictas – Astaldi joint venture, which is handling the project under the build-operate-transfer (BOT) model. The project has an investment value of some US$2.5 billion. The landmark 3rd Bosporus Bridge, or Yavuz Sultan Selim Bridge, forms the centrepiece of the Northern Marma