Channel Turhan's Description of Channel Istanbul

Channel Istanbul
Channel Istanbul

Cahit Turhan, Minister of Transport and Infrastructure, stated that the planning process for Kanal Istanbul is about to be completed and said, er Negotiations on financing are ongoing. The Chinese are also interested, but the most relevant are the Benelux countries. They are both technological and countries with work experience in this field. ” Minister Turhan said the size of the project is 20 billion dollars.

Cahit Turhan, Minister of Transport and Infrastructure, stated that the EIA process has been completed and the planning process is about to be completed in Kanal İstanbul Project. “Financing conditions are more favorable this year compared to last year. Benelux countries are interested, we started negotiations ”. Hürriyet Minister Turhan, who was a guest at the Ankara office, answered questions about the agenda. Stating that the EIA process has been completed and the planning process is about to end in Channel Istanbul, Minister Turhan said, “The Bosphorus, even the Dardanelles, is having difficulty in meeting the sea transportation demands. We have the capacity to pass 25 thousand ships annually in the Bosphorus. In the best conditions we go up to a thousand 40. At 2013, 40 climbed to a thousand, then 35 went down to thousands. Now this trend has started to increase. The economies of Asian countries will develop gradually, and when the goods produced in China and even the products produced in North Asia are opened to the world via ports in the Black Sea, 70 will be demanding a thousand vehicle pass. It is not possible to cross the Bosphorus. Kanal Istanbul is a transportation project and it is essential for us to meet the transit demands in this strait ”.

20 BILLION DOLLAR PROJECT

Turhan stated that they are continuing the negotiations about financing. “The Chinese are also interested, but the most relevant are the Benelux countries. They are both technological and countries with work experience in this field. They say they can get funding. This year, financing conditions are more favorable than last year. Currently, there is a financial market stuck in Europe, where interest rates are minus. We need to evaluate these environments well. Depending on the financing requirements, 20 is a project that will reach $ billion. 5 billion dollars of the project will be used for displacement of the existing infrastructure for the roads, energy and transportation systems that will be affected by the project. The first tender will be held for this. We expect an income of nearly one billion dollars per year from sea transportation..

(Benelux is a political and formal cooperation based on the geographical unity of Belgium, the Netherlands and Luxembourg.

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