Turkey will see launch of major infrastructure investment projects in 2018

Turkey will see launch of major infrastructure investment projects in 2018
Posted on: 2 Jan 2018

Turkey which achieved a growth rate of over 11 percent in 2018 is destined to see the launch of some major infrastructure projects in 2018. Officials have announced that the country will continue investments within the framework of 2023 targets and its vision of 2053 and 2071 with major investments such as Istanbul Airport, Kanal Istanbul, airports, tunnels and railways on the agenda this year.

Over the last 15 years, the administration has accomplished many mega projects. The government plans to continue with the same tempo and undersign important achievements such as completing first phase of the Istanbul New Airport, also known as the Third Airport and putting it into service, finalizing the bidding for the Kanal Istanbul and 3-Story Grand Istanbul Tunnel projects.

Needless to say among said projects Istanbul New Airport will draw much attention with its first phase scheduled to go into operation on Oct. 29, 2018. Istanbul New Airport will be one of the world's largest infrastructure projects with an estimated investment cost of 10.5 billion euros.

KanalIstanbulTurkey

On the other hand Kanal Istanbul is obviously one-of-a-kind project that one could not even dream of until a couple of decades ago. Officials have stated that the project is to be given the final design following “detailed modeling and field work”. The administration is working on alternative financial models to include BOT (build-operate-transfer). After necessary preparation is completed during the first half of the year, The Ministry of Transport is scheduled to open a tender for the construction of the project.

Turkey has improved its transportation facilities substantially in the last two decades. The construction of highways and upgrade of the railway system has certainly contributed much in this direction. Within this scope 2018 will be an important year to expand the high-speed rail network, to establish a rapid rail corridor, renew existing roads and build a local railway industry that connects production centers and industrial areas to ports, as well.

On the other hand, Turkey would like to produce a national high-speed train, upgrade its logistics centers and become an important part of the Silk Road concept.

To recap, the country is certainly determined to take giant steps on the way to increasing its importance in the region as well as the world and thus improving the welfare of its citizens.