Release date: 10 December 2010
Promoter – Financial Intermediary
Republic of Turkey, represented through DLH, - the relevant body of the Transportation Ministry
Location
Description
The project is a PPP for the the design, financing, construction, operation and maintenance of the Istanbul Strait Road Tunnel Crossing, comprising three sections with a total length of 14.6 km. The two road sections on either side of the tunnel shall be returned to the public authorities immediately after the completion of construction while the tunnel section shall be operated under a concession.
Objectives
Protection of Environment and Sustainable Communities
Support to Pre-accession countries
Sector(s)
Proposed EIB finance (Approximate amount)
Approximately EUR 250 million (to be appraised)
Total cost (Approximate amount)
Approximately EUR 768 million (to be appraised)
Environmental aspects
If within the EU, the project would fall under Annex I of the EIA Directive 85/337/EEC, amended by directives 97/11/EC and 2003/35/EC thus requiring a full EIA, including public consultation.
Procurement
The project has been tendered by the Turkish State (via DLH) as a BOT for the design, building, financing, operating of the “Istanbul Strait Road Tube Crossing”, and has received widespread international interest. Tender has been awarded with a concession period of 30.5 years at the end of 2008 to a Turkish-Korean J.V., and the contract is currently being finalised for signature. Procurement procedures followed are deemed satisfactory by the Bank.
Status
Signed - 8/12/2012
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).