Turkish banks to grant $2.3 billion for third bridge construction over Bosphorus

IC Holding (winner of the tender to build the third bridge over the Bosphorus) signed credit deals worth a total of $2.3 billion with Garantibank International, Garanti Bankasi, Halk Bankasi, Is Bankasi, Vakiflar Bankasi, Ziraat Bankasi and Yapi ve Kredi Bankasi to realize the project, IC Holding reports.

The bridge will be named after the 9th Ottoman Sultan Yavuz Selim. It will be open on May 29, 2015, marking the day the Turks conquered Constantinople in 1453. The bridge will have 8 car lines and 2 train lines. It will be 59m wide, 1.4km long, pillars 320m high.

IC Holding will build the bridge for the highway in the northern part of the Marmara Sea and manage it for 8 years.