3. International Finance Award to the Bridge and Northern Marmara Highway Project- 05.06.2014
The 3rd Bridge and Northern Marmara Highway Project, which is considered as one of the most prestigious projects in Turkey, has won the “Finance Award” given by the international economy magazine EMAE Finance.
The 3rd Bridge and Northern Marmara Highway Project executed by ICA, IC İÇTAŞ – Astaldi Consortium and considered as the future of transportation and commerce has been granted an award by EMEA Finance which follows up the financial markets all around Europe, Middle East, and Africa and which is among the leading financial magazines in the world. The project has been granted the Project Finance Award with ‘The Best Public-Private-Partnership’ (“KÖİ”-“PPP”) Model, for the European, Middle Eastern, and African Region (EMEA) in the year 2013.
The credit contract agreement with a value of 2.3 billion US dollars and with the contribution of 7 banks for the project financing of Yavuz Sultan Selim Bridge was signed in August, 2013 and it was completed in the previous days.
FINANCE PROJECT WILL ALSO SET AN EXAMPLE
The finance request of ICA of the IC İÇTAŞ - Astaldi consortium which is to execute the Yavuz Sultan Selim Bridge and Northern Marmara Highway Project is being met with the contribution of Garantibank International N.V., T.Garanti Bankası A.Ş:, T.Halk Bankası A.S. T.İş Bankası A.S. T.Vakıflar Bankası T.A.O., T.Ziraat Bankası A.S. and Yapı Kredi Bankası A.S.
The project financing for which will cost 2.3 billion USA dollars with a 9 year term is considered as the project financing credit with the highest amount provided at once for a 'greenfield' (from scratch) project in the history of the Republic.
Serhat Çeçen, IC Holding Board Member, who has expressed his opinions stated: "The Project Finance Award with the Best Public-Private-Partnership Modelling for EMEA Region in 2013 granted for the 3rd Bridge and Northern Marmara Highway Project has been a reward that makes us happy and proud during the construction phase of the bridge. We hope that our finance project, with which we are breaking new ground, will set an example and that it will contribute to the development of Turkish economy.
BREAKING THE GROUNDS IN ALL ASPECTS
The Yavuz Sultan Selim Bridge, which will be constructed within the scope of the Northern Marmara Highway Project, will be the 3rd bridge built at Istanbul Bosporus, following the Bosporus Bridge which entered into service in 1973 and Fatih Sultan Mehmet Bridge which was completed in 1988.
The 3rd Bosporus Bridge which was constructed by a team mainly composed of Turkish engineers by using advanced technology and engineering methods, will be the first bridge in the globe to provide 8 lanes for passage of vehicles and 2 lanes for the passage of trains simultaneously. It will assume the title of being the longest and largest suspension bridge in the world with its width of 59 meters and main span of 1408 meters. Additionally, it will be a bridge with the highest tower with its height more than 320 meters.
The concept design of Yavuz Sultan Selim Bridge was jointly made by Michel Virlogeux, the construction engineer known as the “French bridge expert” and by the Swiss T-Engineering company.