Explaining that 12 of the 10 rail system projects in Istanbul were stopped in 2017, İmamoğlu said, "The cost of this is 10.9 billion TL." Announced its targets in the subway: The aim is 20 km of new rail system per year.
After the 2019 elections, we saw that the metro lines we took over were stopped. Unfortunately, the road was set out with open ends. In fact, there is not even a project for the Mahmutbey-Esenyurt line, which has been tendered. When we took office, there were 12 subway projects. Only two of these were working.
Despite all that time has passed, there are projects that have not been nailed yet. We stopped some of them. We continued with what started. What would happen if everything was on time? The cost of starting and stopping the construction sites is 10.9 billion lira.
OUR GOAL IS 20 KM OF RAIL SYSTEM PER YEAR
When we were elected, we had to pay salaries, there was no money in the safe of IMM. The public bank did not allow even 700 million of IMM, which had the right to use a loan of 1 million lira. The public did not give us credit, we found loans from abroad to start the stationary construction sites. We have a target of 20 km of rail systems per year.
The average of the past 25 years of performance is 5 km. The ratio of the rail system in public transportation is at the level of 18 percent. Over 40 percent in developed countries. When we finish the subways we have, we can reach 35 percent.
WE HAVE UP THE METRO PROJECT
Answering the questions of the Economy Journalist İbrahim Kahveci, IMM President İmamoğlu explained the foreign loans taken for the rail system of Istanbul. Stating that about 12 subway constructions stopped when they took office, İmamoğlu said that the damage was increasing day by day.
For this reason, İmamoğlu stated that they found fast financing and headed for metro lines and said, “We found the loan we could not find from abroad from abroad. The cost of the pending construction sites to Istanbul since 2017 is approximately 11 billion TL. That's why we couldn't wait any longer, ”he said.
Istanbul Metropolitan Municipality (IMM) President Ekrem İmamoğluHe answered the questions of İbrahim Kahveci, the economics writer of the Decision Newspaper. Saying that the most important issue in Istanbul is transportation, İmamoğlu said, "I don't call it a problem." Referring to the earthquake issue in the first place, İmamoğlu stated that this is a controversial issue.
Stating that about 12 subway constructions stopped when they took office, İmamoğlu said that the damage was increasing day by day. Explaining that they found fast financing for this reason, they turned to metro lines, “The public did not give us credit, we found a loan to start the construction sites from abroad. According to our detailed calculations, with the increase and minus of the start-up of the construction sites, the cost is approximately 11 billion TL ”. İmamoğlu listed the details as follows:
THE LINES WE DELIVERED ARE STOPPED
Rail systems are at the center of public transportation. Studies have been done on this subject for years, but not at the desired speed. Unfortunately, after the 2019 elections, we saw that the metro lines we received were stopped. Many metro lines that were introduced in 2017 as metro everywhere are not working.
STOP INSTRUCTIONS GIVEN TO THE SITES
The instructions to stop the construction sites were given by Mevlüt Uysal. Because they don't have a budget. When we took delivery in 2019, there were stopped lines. We put this all into action. When we took office, there were 6 projects and 7 lines that were tendered. It was stopped by a post on December 29, 2017. The total length of these lines was 78.2 kilometers. Apart from that, there were approximately 2017 kilometers of subway lines that were tendered before 103 but were still unfinished or not started due to lack of funds.
Explaining that it is a serious problem that the metro constructions stop and start again after waiting for a while. Ekrem İmamoğlu he stated:
TENDER HAS BEEN MADE BUT NO PROJECT
The main thing is the financial problem. They created such an unfortunate period in the Metropolitan Municipality. Most of these works were tendered before a financing model was created to meet the full cost.
In other words, if you cannot return such a burdensome project from your own capital, you do not have such a chance, you have to force the metropolitan municipality into a financing model. Unfortunately, the road was set out with open ends. In fact, there is not even a project for the Mahmutbey - Esenyurt line whose tender has been made. The application project is not ready, but its tender has been made. It hasn't started at all.
WE CONTINUE WITH INTERNATIONAL SOURCES
All of these were advertised, but it also stopped because the financing model was immature. We set this standing position in motion. On the other hand, we started looking for financing. At that point, in 2019, we signed our signatures for foreign financing for some of our lines. It originates from both Germany and France. Apart from that, we have also received loans.
WE APPLY FOR BONO BONDS EXPORT
Because we had to mobilize. This was not enough either. That's why we applied to the bonds and bonds side. This has a story for over a year. It was concluded in November, but it is not a matter of 1-1 months anyway. We made this decision in October-November last year. We explained that he is walking with a merit and prestigious Istanbul administration. The bond issue ended up like this.
'THE LINES WERE NOT MADE ON TIME, THE COST IS HIGH'
Mentioning that the metro lines of IMM were not built on time, Ekrem İmamoğlu “What would have happened if everything was on time? The cost of this was reflected on us. And to Istanbulites. According to our detailed calculations, the cost of starting the construction sites after stopping, plus and minus, is 10.9 billion liras.
When we took office, there were 12 metro projects. Only 2 of them were working. 10 had stopped. From 0,1 percent to 60 percent, these lines had stopped. The ministry took over one of these projects. Başakşehir-Kayaşehir line. There are 11 projects left. Some of these projects were in euro and some in TL ”.
'WE OBTAINED CHEAPER FINANCING FROM THE PUBLIC BANK'
Mentioning that an informative meeting, not a ceremony, was held for a bond issuance of 580 million dollars, Ekrem İmamoğlu “This is a first in its history. It has to be proud of. We also demonstrated the ability to obtain finance at a lower cost than a public bank. We managed a more successful financial process than Vakıfbank.
We wanted to solve this domestically. From Iller Bank or another public institution. Moreover, many overseas projects center around the government of Turkey has made financing. But we would have wanted domestic financing ”.
'STATE BANKS CLOSED LIMITS TO US'
“When we were elected on June 23, we had to pay salaries within the first few days after we arrived,” he said. Ekrem İmamoğlu He said: “There was no money in the big İBB's safe. In such emergencies, there are credit tickets. Even 700 million of the IMM, which has the right to use a loan of 1 million lira in a bank, was not allowed by that public bank. Public banks kept these accounts closed. They didn't give it to us. The limits we can finance from public banks do not give us a closure.
In fact, they do not provide this opportunity to any CHP municipalities like us. If comment is to be made, a comment should be made on such a fact. I would also like to go and borrow money from Vakıfbank for these projects. Could Vakıfbank provide us such a financing for something else but it did not happen.
Our project money, 600 million lira, was confiscated in a public bank. His case is still ongoing. As long as there are public institutions and organizations that are far from establishing relations, we have to finish half the projects from the past period. Our reputation is high, we will find whatever we need. "
'ISTANBUL WILL BE AWARE OF INVESTMENTS IN 2024'
Stating that the Alibeyköy-Eminönü tram project is managed with their own budget, Ekrem İmamoğlu “We managed without being subject to a loan. We keep the others separate from this budget. In the period of 2016-2017, such tenders were made that we can even add 2018 to this.
If we only subject our own tenders to ourselves, it would take 6 years to pay. We stopped some of them. We continued with what started. Despite all that time has passed, there are projects that have not been nailed yet. There are 20 projects in a district and 0 in a district. What we have done will be better understood in 2024. "Istanbul's money has been utilized much better," he said.
'WE WILL PASS UNDER THE BOSPHORUS WITH HIZRAY'
Expressing that they opened the Mahmutbey-Mecidiyeköy metro line, Ekrem İmamoğlu He continued: “We are opening the Eminönü-Alibeyköy line. Ataköy İkitelli line will be put into service next year. We will train the Dudulldu-Bostancı line to 2022. We have a Göztepe-Ataşehir-Ümraniye line. We will show a very good performance in March 2024.
The annual average of the past 25 years of performance is 5 kilometers. We aim to increase this four times. The Incirli-Beylikdüzü line is also of great importance to me. His project is very old but 4 years old. It has been promised in all periods since the 20 election. The project is constantly being shelved. We want to do its tender in 2004. There is a Hızray issue.
It will be faster than normal metro lines. We will pass the Bosphorus parts as a drilling tunnel, as in Eurasia. As a municipality, we will proceed under the Bosphorus. It will be integrated between 10 and 14 subways. Istanbullu will go from west to east by metro line. The approximate cost will be 4-5 billion dollars. The daily capacity will be between 750 and 1 million passengers. "
'IN 2019 BORROWING APPROVED FOR THIS YEAR WAS NOT PERMITTED'
Stating that it is difficult to dream in the economy Ekrem İmamoğlu “You have to stretch your feet according to your quilt. We have such a misfortune. In 2019, there was a projected 2020 billion borrowing figure for the 4.3 budget. I did not foresee this, the joint assembly did.
This budget was approved unanimously. More than half of that was in previous years' debt. So it wasn't just for our own current account. Despite this, they did not give us this 4.3 billion lira loan. The borrowing approved by the parliament. Ak Parti and MHP group deputy chairmen did not want to understand this. They carried the business to the political dimension ”.
'AVERAGE 20 KILOMETER RAIL SYSTEM PER YEAR'
IMM President İmamoğlu said, “We have an average of 20 kilometers of rail system target per year. We aim to do this with zero new tender. Apart from that, we also have new projects planned. We will reach a serious network when we tender and implement them.
The ratio of the rail system in public transport is around 18 percent. Looking at the developed countries, these are over 40 percent. Only when we finish the subways we have, we can reach the level of 35 percent. “Stopping the rail systems is both a financial and an economic loss”. (Source: decision.com)