The OPEC Fund for International Development has approved a $250 million loan for the Istanbul North Rail Crossing project, marking the largest single financing commitment in the institution’s history.
The loan is part of a broader approved package of up to $500 million to build a new railway bypassing the Istanbul metropolitan area.
The 127-km double-track, electrified line will run between Cayirova on the Asian side and Catalca on the European side, crossing the Bosphorus via the Yavuz Sultan Selim Bridge.
Carrying both passengers and cargo, the link addresses a critical bottleneck in Asia-Europe rail traffic. Currently, freight trains only use the Marmaray tunnel during limited nighttime hours, restricting annual capacity to 3 million tons.
The new line will expand this to 50 million tons, cutting freight journey times between Cayirova and Catalca from 13 hours to 3.6 hours.
It will also link Istanbul Airport and Sabiha Gokcen Airport to the national rail network, reducing inter-airport transit time from two hours to 65 minutes.
