Statement from the partnership that made the 1915 Çanakkale Bridge and Motorway Project

Statement from the partnership that made the 1915 Çanakkale Bridge and Motorway Project
Statement from the partnership that made the 1915 Çanakkale Bridge and Motorway Project

📩 04/01/2023 09:01

Çanakkale Highway and Bridge Construction Investment and Operation Inc. (ÇOK A.Ş.) made a statement about the 1915 Çanakkale Bridge.

The statement is as follows: Recently, due to misleading information about our project in the media, it has become necessary to make a statement in order to inform the public correctly.

We would like to share with you some information about the 1915 Çanakkale Bridge and Motorway Project, which will include the world's widest medium span suspension bridge when completed.

Directorate General for Transport and Infrastructure Ministry of Highways (KGM), by Build-Operate-Transfer (BOT) tendered model and Limak from Turkey and Construction Center, South Korea's Daelim and SK E & C companies conducted by the partnership of the project, already five thousand It is one of the few projects in the world that employs 5 people.

The 10 Çanakkale Bridge and Motorway Project, which ranks first among the largest public investments in Europe with a loan of 25 billion Euros provided by 2.265 banks and financial institutions from 1915 different countries, broke new ground by winning 11 Global Finance Awards from the world's reputable institutions.

Turkey's strategic importance for timely project can be funded in a short time achieved significant success with the interest of the resource diversity and international lenders are discarded. 70 percent of the loan used to finance the project was obtained from foreign banks and financial institutions. The loan package, structured in accordance with international project finance standards, consists of eight different loan segments, including the Export Credit Agency (ECA) and Islamic financing methods, and is of great importance in terms of providing foreign resources to our country as it is financed by various international sources.

The 1915 Çanakkale Bridge is set as an example with its financing model, as well as with its security measures, environmental awareness and the values ​​it will provide to our country. According to studies conducted by international consultancy institutions, it is predicted that the project will contribute approximately 14 billion Euros to the economy and social opportunities of the region.

The 16 Çanakkale Bridge and Motorway Project, which has a total contract period of 2 years 12 months 5 days (6 years 10 months construction, 8 years 12 months 1915 days operation period), including construction and operation, is aimed to be completed on 18 March 2022.

The claim that the contractor companies will make exorbitant profits from the guarantee payments, which is constantly brought to the agenda through the media channel, does not reflect the truth. The cost of the project, which is reflected to the public, was calculated over the 2017 exchange rate and the real value of the cost in foreign currency is 2.5 billion Euros. This figure does not include financing costs. However, the total investment cost will be over 3 billion Euros.

Considering that the project operation and maintenance costs are also ignored in the accounts mentioned in the media, the subject of the claim does not reflect the truth.

The project, Turkey's national development vision in the document moves the nature of the envisaged upgrading of roads countrywide plays an important role in the 2023 Master Plan goals.

With the 1915 Çanakkale Bridge, a new alternative to the Bosphorus crossing will be created, the industry, trade and service sectors in Thrace and Western Anatolia will gain momentum, national and international tourism will be revived, the duration and costs of transportation will decrease and the efficiency of foreign trade will increase. Construction and operation phases will provide employment to thousands of people and will add vitality to various sectors, will give an important contribution to Turkey's economy.

We are always pleased to share with you the issues you wonder about the 1915 Çanakkale Bridge and Motorway Project.

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