Works on Gebze-İzmir Highway Project continue at full speed

Works on the Gebze-İzmir Motorway project continue at full speed: The Gebze-İzmir Highway project, which is the largest infrastructure investment in Europe and the second largest in the world, continues at full speed. The companies in the consortium, which won the tender, continue to work on bridges, highways, tunnels and viaducts in nine different areas in the project, which is expected to save approximately 3,5 million TL annually by reducing the distance between Istanbul and Izmir to 870 hours.
While the progress on the highway and viaduct leg of the project is almost halfway, the construction of the road crossing over the piers has started in the viaduct works on the Istanbul side of the bridge. Tube opening works are progressing rapidly in the Samanlı tunnel. In 2015, it is aimed to complete the part of the highway, especially from Gebze to Orhangazi.
PROJECT 600 MILLION DOLLARS NEW CREDIT
Kerim Kemahlı, CFO of Nurol Holding, the leader of the consortium that built the Gebze-İzmir highway, said that they are planning to sign a new $ 600 million loan agreement with eight banks for the construction of the Orhangazi-Bursa section of the project in April, and that they expect an increase in the total investment cost.
SEVERAL FINANCE FOR ANY PHASE
The Gebze-Orhangazi-İzmir Motorway project, which also includes the İzmit Bay crossing bridge, is divided into two phases as Gebze-Orhangazi and Orhangazi-İzmir. he said.
Investment cost 7.4 billion dollars
Kerim Kemahlı stated that a total investment of 2.8 billion dollars will be made for the section between Gebze and Orhangazi and 1.4 billion dollars of this will be covered by equity. Stating that the cost for the Bursa-İzmir part of the project, which is the second phase of the Orhangazi-İzmir phase, will be approximately 4 billion dollars, Kemahlı stated that they plan to finance 3 billion dollars with bank loans and 1 billion dollars with equity. Kemahlı said, 'We will start the financing of this department at the end of 2014 or the beginning of 2015. In total, it seems that an investment cost of 7.4 billion dollars will arise for the whole project.