Gulf Crossing ready per 2016

Bay Crossing is ready for the beginning of 2016: The construction of the Izmit Bay Crossing Bridge, the most important crossing point of the Gebze-Orhangazi-Izmir Highway Project, which will reduce the distance between Istanbul and Izmir to 3,5 hours, will be completed in January 2016. With the bridge crossing and Orhangazi connection, the Bay Pass will be reduced to 6 minutes.

Major infrastructure projects were on the agenda at the 8th Energy and Infrastructure Finance Forum held in Istanbul. One of them is the Gebze-Orhangazi-İzmir Highway Project built between Istanbul and Izmir. Bleda Gökham Akmut, Chief Financial Officer (CFO) of Özaltın Holding, one of the partners of the project, said that there was no setback in the work schedule of the project. Akmut explained the point reached in the project to Al Jazeera and stated that the section from Gebze to Orhangazi will be ready at the beginning of 2016:

“The current work schedule shows him. Gebze-Orhangazi and suspension bridge will be ready in January 2016. The highway will be connected to TEM and to the third bridge when ready. In 2016, the Orhangazi-Bursa connection will be completed. Bursa-Izmir transition will also end at the end of 2019. The entire project will be completed in 2020. "

The fourth largest suspension bridge in the world

As part of the project, the bridge, which is planned to be 252 meters high, will reduce the 1,5-hour long Dilovası - Altınova distance to 6 minutes.

The bridge built between Dilovasi and Hersek will be the fourth largest suspension bridge in the world with its 3 mile length and a thousand 550 meters. There will be 3 departures on the bridge, 3 lane highway and 6 lane highway and single lane maintenance road.

100 TL toll

The groundbreaking ceremony of the bridge was held on October 29, 2010. The toll fee of the bridge was determined as 35 dollars + VAT. While the 1 dollar was 1.43 TL at that time, the toll, which was 50 TL without VAT, almost doubled with today's exchange rate and approached 100 TL.

Cost has risen, 7.5 is over $ 1 billion

Özaltın Holding CFO Akmut stated that they will receive a loan of 5 billion dollars in April and gave information about the cost of the project:

“We used 1.4 billion dollars of equity for the project. We will sign a new loan agreement of 9 billion dollars with 5 banks. The signatures are closed in April and we start using the loan by May 15th. We are talking about 550 million dollars of financing per bank. We received a 100 basis point reduction in loan financing, and Turkish banks provided great support. With equity there will be a total cost of 7.5 billion dollars. "

In the tender held in June, 2009 awarded the project's shortest construction and operation period with the 22 year and the Nurol-Özaltın-Makyol-Astaldi-Yüksel-Göçay Construction Joint Venture. Previously the cost of the project was expressed as 4 billion dollars.

Günceleme: 03/12/2018 16:42

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