Kanal Istanbul Statement by Minister Turhan

Channel Istanbul
Channel Istanbul

Stating that the planning process for Kanal Istanbul is about to be completed, Minister of Transport and Infrastructure Cahit Turhan said, “Negotiations on financing continue. The Chinese are also interested, but the Benelux countries are the most relevant. They are both technological and countries with work experience in this field. ” Minister Turhan said that the size of the project is 20 billion dollars.

Stating that the EIA process has been completed in the Kanal Istanbul Project and the planning processes are about to end, Transportation and Infrastructure Minister Cahit Turhan said, “The financing conditions are more appropriate this year than last year. Benelux countries are interested, we started negotiations. ” Hürriyet Minister Turhan, who was a guest at the Ankara office, answered questions about the agenda. Stating that the EIA process has been completed and the planning process is about to end, Kanal Turhan said, “The Bosphorus, even the Dardanelles, has a hard time meeting the sea transportation demands. We have the capacity to spend 25 thousand ships a year in the Bosphorus. We reach up to 40 thousand in the best conditions. It increased to 2013 thousand in 40, then to 35 thousand. Now this trend has started to increase. The economy of Asian countries will improve gradually, when the goods produced in China and even the goods produced in North Asia open up to the world through the ports in the Black Sea, there will be 70 thousand vehicle transition requests from here. It is not possible to cross the Bosphorus. Kanal Istanbul is a transportation project and this is a must for us to meet the transition demands in the Bosphorus ”.

20 BILLION DOLLAR PROJECT

Stating that they are continuing negotiations on financing, Turhan said, “The Chinese are also interested, but the Benelux countries are the most relevant. They are both technological and countries with work experience in this field. They say they can find the financing as well. This year, financing conditions are more favorable than last year. There is a financial market stuck in Europe right now, even with interest rates down. We need to evaluate these environments well. It is a project that will reach $ 20 billion depending on financing conditions. $ 5 billion of the project will be used for the displacement of the existing infrastructure for environmental roads, energy and transportation systems that will be affected by the project. The first tender will be held for this. We expect a revenue of nearly one billion dollars a year from sea transportation. ”

(Benelux is the union that describes the geographical unity of Belgium, the Netherlands and Luxembourg. It is based on a political and formal cooperation. The name "Benelux" is formed by combining the first syllables of these three countries in their own language (BELGIË, NEDERLAND, LUXEMBURG).

Map of Kanal Istanbul

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