Loan Agreement of Istanbul-Izmir Highway Project OK

Loan Agreement for the Istanbul-Izmir Highway Project OK: The Minister of Transport, Maritime Affairs and Communications Feridun Bilgin has met all external financing needs of the Istanbul-Izmir Highway Project with a loan of 5 billion dollars.
The Istanbul-Bursa-Izmir Highway, which also includes the Izmit Bay Crossing Bridge, will connect Istanbul to Izmir via Yalova, Bursa, Balıkesir and Manisa.
Minister of Transport, Maritime Affairs and Communications Feridun Bilgin said, “This road, which is a part of the North South European Motorway called TEM Highway, is one of the main highway corridors where the traffic demand is the highest in both freight and passenger transportation. With a loan agreement of approximately 8 billion dollars signed with 9 Turkish banks' branches abroad and 5 banks consisting of Deutsche Bank, all external financing needs of the project have been met.
It will connect the Northern Marmara Motorway to the Istanbul-Izmir Highway via Manisa with the Çanakkale Bridge, which is planned to include both railway and road crossings.
The highway and railway ring around the Marmara Sea has been completed, and our country will be connected to Thrace and Europe with a very important alternative route through the Dardanelles outside the Bosphorus.
When the Izmit Bay Crossing Suspension Bridge, which is the most important crossing point of the project in question, will reduce the road transportation between Istanbul and Izmir to 3,5 hours, the 1-1,5 hourly transportation period will be reduced to 6 minutes.
The most important crossing point of the project is the Izmit Gulf Passage Bridge, which is built between Dilovasi and Hersek. The 3 is the second longest suspension bridge in the world with the length of the 550 and also the world's 4. will have the title of big suspension bridge.

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