Turkish Economic Train Rages On

While the economic crisis rages on in Europe and sporadically around the world, Turkey continues to go from strength to strength, this week finalising two record-breaking tenders. The first a 22.15 billion euros multi-party tender for the construction of Istanbul's third and one of the world's largest airports. The airport secured 22.15 billion euros (plus 18 percent tax) revenue for the Turkish budget for 25 years starting from 2017, when the airport is set to be operative. The tender was won by a consortium of five experienced Turkish construction companies, namely Limak, Cengiz, Mapa, Kolin and Kalyon.

Turkish Transportation Minister Binali Yıldırım, who spoke right after the auction was finalized, said that with Istanbul’s third airport tender, the country’s 2023 target (that is the 100th anniversary of the Turkish Republic) would have a big step forward.

The minister has big plans not to stop there. He plans to open a rail-crossing under the Bosporus completing a rail connection between Beijing and London with the new crossing between Istanbul's European and Asian sides. With that crossing the speed train will be operative between Istanbul and Ankara and a number of other cities in Turkey with the target of extending the rails to the Georgian border in the northeast.

The construction of a third bridge over the Bosphorus has also started. The third airport in Istanbul with its six tarmacs could change the center of gravity of the transportation picture of both the European and Asian (and African) picture.

As if that wasn't enough another story broke yesterday regarding the construction of Turkey's second nuclear power plant in Sinop , on Turkey’s central Black Sea coast. This, another 22 billion-dollar project was agreed in a deal signed by the Turkish Prime Minister and his Japanese counterpart Shinzo Abe. The plant is to be constructed in the same vein as Turkey's first nuclear power plant by the Russians, whereby those who construct it will have the dominant share and will operate the power plant, thus taking all the responsibility.


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