Turkey's $8.1B Istanbul Northern Railway Project Launches This Year
Turkey is set to launch its first major international railway tender this year, with multiple global lenders involved simultaneously. The Istanbul Northern Railway Project, valued at $8.1 billion, is a significant step in enhancing the country's trade and infrastructure.
The project, expected to ease freight traffic in Istanbul, involves constructing a 125-kilometer freight railway line from Çayırova to Çatalca, crossing the Bosphorus via the Yavuz Sultan Selim Bridge. It is jointly financed by international institutions such as the Asian Infrastructure Investment Bank (AIIB), the European Bank for Reconstruction and Development (EBRD), the Islamic Development Bank (IsDB), and the World Bank, alongside Turkey.
The project aims to meet modern infrastructure standards while minimizing environmental impact. It is part of Turkey's strategy to utilize its geographical position to promote regional and global trade, diversify supply chains, and support sustainable development through strategic infrastructure projects like this railway.
The international tender notice for the Istanbul Northern Railway Project is scheduled to be issued by the end of this year. Upon completion, this project is expected to strengthen east-west trade routes and contribute to Turkey's economic growth.
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