Turkey plans “build and operate model” for the Kanal Istanbul project
Istanbul, Turkey (PortSEurope) November 3, 2021 – Turkey is planning to adopt a “build and operate model” for the Kanal Istanbul project, said Infrastructure and Transportation Minister Adil Karaismailoğlu. Kanal Istanbul is a project for an artificial sea-level waterway, which is planned to be built in Istanbul’s Kucukcekmece Lake-Sazlidere Dam-Durusu corridor. It is projected to have a capacity of 160 vessel transits a day –
similar to the current volume of traffic through the parallel Bosphorus (Bosporus) Strait – where traffic congestion leaves ships queuing for hours and sometimes days to transit. A “build and operate model” would mean a reduced upfront payment for the government, with a private enterprise financing construction and then taking revenue to recover costs and generate a profit. The minister is reported as saying that talks have started with companies from the Netherlands, Belgium, Russia and China regarding the project. No further details were available. More news on the Kanal Istanbul project from PortSEurope Copyright (C) PortSEurope. All Rights Reserved. 2021.
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