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115-km MOTORWAY

Turkish firms win $2.4bn Bosphorus Strait project

ANKARA, May 17, 2016

Two Turkish consortia on Tuesday won tenders to build sections of a 7-billion-lira ($2.36 billion) motorway project that will connect to a new bridge spanning Istanbul's Bosphorus Strait.

Limak Holding and Cengiz Holding, which both have interests ranging from energy to construction, together won a tender to build the Asian section of the road project, Transport Minister Binali Yildirim said in comments broadcast live.

Builders Kolin Construction and Kalyon Group won a second tender to build the European segment of the road, he said. Both sections were tendered under the build-operate-transfer model.

The 7-billion-lira investment in the 115-km motorway is expected to span three years, he said.-Reuters




Tags: Turkey | contract | Bosphorus Strait | highway |

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