Istanbul subways in the financial bottleneck

Istanbul Metropolitan Municipality (IMM) was awarded the borrowing authorization for the 6 metro line, which has been auctioned in recent months.

IBB Parliament, this decision, 925 million Euros and the need for external borrowing as much as the insurance premium on the report. (By majority)

According to the report, which came up in the first half of October, the lines that need borrowing are:
Kaynarca - Pendik-Tuzla, Çekmeköy- Sancaktepe-Sultanbeyli, Ümraniye- Ataşehir- Göztepe, Kirazlı- Halkalı, Başakşehir- Kayaşehir, Mahmutbey- Bahçeşehir.

Total tender price of 6 metro line: 12 billion 859 million 636 thousand TL.

In the last two months, we have addressed these lines and tenders in three separate articles. In the 5 subway tender in March of this year, we concluded that the contracts were signed as public loss despite the fact that the contractors offered much more than the approximate cost. More than the amount of bid submitted in five tenders was 1 billion 193 million TL.
Let's look at the proposals given for these tenders and the amount that IMM plans to borrow for each metro line:

The tender price in the table is TL, and the borrowing plan is naturally Euro. Take note of the Euro exchange rate 4.6 TL. When we look at the table from this perspective, we can see that each subway line of İBB will borrow about one third of the tender price.

However, in recent days, the projects are in serious financial bottleneck. İBB's borrowing initiative for the 6 metro line is not yet a news issue, while there is a serious shortage of subsidies in metro construction.

In this case, the construction of subway construction began to cancel the cancellation is unknown. Certainly, these tenders, which are distributed to contractors as “ascended dağıt through our taxes, are now constricted by IMM.

Source: Çiğdem Toker - Cumhuriyet

Armin

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