TURKEY’S MEGA PROJECTS
TURKEY’S MEGA PROJECTS
The investment environment has dramatically changed after 2001 in Turkey, with a big capability to take on large infrastructure projects. The availability of international liquidity and the adoption of more subtle and self-financing strategies to finance these projects were in purpose to assure their successful completion.
Road networks, bridges, tunnels, city underground railways, intercity railways and city bus lanes were constructed or renewed throughout Turkey. Combined with privatisation of government assets, and encouragement of private investment in hospitals, schools and universities, Turkey’s landscape changed toldly.
A number of mega projects have been adopted and are now in various stages of completion. These mega projects which exceed USD 100 billion in total worth are as follows :
- Istanbul’s Third Airport
The Project is set to be one of the largest in the world in terms of passenger capacity, is under construction in the Arnavutköy district of Istanbul.
- Akkuyu Nuclear Power Plant
Turkey started this project in purpose to diversify its sources of energy and reduce dependence on imports, and plans to have 3 operational nuclear power plants by 2023.
- Eurasia Tunnel
This Tunnel is the key component of a motorway that will allow drivers to cut the travel time from Kazlicesme on the European side to Goztepe on the Asian side of Istanbul to 15 minutes.
- Istanbul Finance Centre
The Centre will accommodate the head offices of the country’s governing bodies of financial markets, state-owned banks, and other financial orientated businesses.
- North Marmara Highway - Yavuz Sultan Selim Bridge
The North Marmara Highway Project, which includes the world’s widest and longest combined road and rail bridge, became the third bridge to span the Bosphorus strait.
- Gebze-Orhangazi-Izmir Highway
This highway project, shorts the overland travel distance between Istanbul and Turkey’s third largest city, Izmir.
- Trans Anatolian Gas Pipeline (TANAP)
The project was Designed to carry natural gas from Azerbaijan’s Shah Deniz field to Turkey.
- Canal Istanbul
The Canal is an artificial sea-level waterway that will be built parallel to the Bosphorus and will connect the Black Sea to the Sea of Marmara. It will provide relief to shipping traffic through the Bosphorus.