Corona Virus Barrier to $ 2,3 Billion Chinese Kizil on YSS Bridge

corona virus obstacle to billion dollar elf in yss bridge
corona virus obstacle to billion dollar elf in yss bridge

Corona virus outbreak in China due to the cessation of flights between Turkey, Yavuz Sultan Selim Bridge taken from Chinese banks for the planned refinancing of $ 2,3 billion has caused the postponement of the loan. Chinese bankers and company officials cannot meet face to face due to travel restrictions to prevent the spread of the outbreak.

The epidemic of the corona virus that shook the world also caused a delay in the $ 2,3 billion refinancing loan planned to be purchased from Chinese banks for the Yavuz Sultan Selim Bridge in the Bosphorus.

Refinancing is attempting to close a previously used loan with another bank loan with interest rates that are considered to be more advantageous.

According to the news that Bloomberg is based on sources close to the subject, the negotiations between the Turkish partner IC Investment Holding and the Chinese China Merchants Group, which holds a 51 percent stake, and Chinese banks were disrupted due to the epidemic.

It was suggested that the talks, which were foreseen to end in April, could hang after April.


It was stated that the negotiations between the consortium officials established with the Chinese bankers for Yavuz Sultan Selim were postponed due to the travel restrictions brought between the two countries due to the corona virus, and that it was only possible to meet online.

IC Investment Holding and its Italian partner Astaldi received a 2013-year loan in 9 for the construction of Yavuz Sultan Selim Bridge. The consortium is negotiating a seven-year refinancing loan with banks led by Chinese banks ICBC and Bank of China.

Bank of China and IC Yatırım left questions about the issue unanswered.

The Chinese China Merchants Group acquired a 688,5 percent majority stake in the company that operated the bridge with a $ 51 million deal. The Chinese company bought 33 percent of Italian Astaldi and 18 percent of IC Investment.

With the Yavuz Sultan Selim Bridge, which was launched in 2016, the Treasury had guaranteed a foreign currency pass.

In 2019, it was revealed that the amount to be paid by the Treasury was 3 billion TL. (SPOKESMAN)

Similar Ads

Be the first to comment