Banks issued loan for suspension bridge construction in Turkey

Business Materials 17 March 2018 14:02 (UTC +04:00)

Baku, Azerbaijan, March 17

By Rufiz Hafizoglu – Trend:

A loan of 2.3 billion euros was allocated for construction of the Canakkale-1915 suspension bridge in Turkey, a source in the Turkish Ministry of Transportation, Maritime Affairs and Communications told Trend.

The source said that the loan was provided by 24 banks.

"Some 1.6 billion euros was allocated by foreign banks, and the rest by Turkish banks," the source said.

The source noted that the loan is allocated for 15 years with a grace period of five years. Among the creditors are banks of countries such as South Korea, Germany, France, Italy, Kuwait and China.

The construction of the Canakkale-1915 suspension bridge, which will become the longest suspension bridge in the world, was launched in March 2017.

The bridge will not only connect the Gelibolu peninsula with the Lapseki area, but will also shorten the transportation of goods from Europe to the Aegean and Western Mediterranean regions of Turkey, bypassing Istanbul.

The commissioning of the bridge with a length of 3,860 meters is scheduled for 2023, when the country will widely celebrate the 100th anniversary of the Republic of Turkey.


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