Istanbul's bridges and highways to be privatized

The government is considering putting the operating rights of the 15 July Martyrs Bridge and the Fatih Sultan Mehmet Bridge on the Bosphorus, as well as nine highways, up for sale. The claims were brought to the agenda by the international news agency Bloomberg, citing government sources.

These bridges, which connect the European and Asian sides of Istanbul, are among the strategic points where hundreds of thousands of vehicles pass through every day. They are also among the critical points of the Bosphorus, which is an important transit route between the Black Sea and the Mediterranean.

It is stated that the Privatization Administration has issued a call for proposals to investment banks for the bridges and highways. This step is said to be part of the government's efforts to close the budget deficit and could create a significant financial resource for Minister of Treasury and Finance Mehmet Şimşek.

PAST PRIVATIZATION ATTEMPT

A similar privatization attempt was made in 2012. At that time, a bid of 5.7 billion dollars was submitted for the operating rights of approximately 2 thousand kilometers of roads and bridges. The tender was won by Koç Holding, Gözde Girişim, and the Malaysia-based UEM Group. However, the then-Prime Minister Recep Tayyip Erdoğan found the bid low and demanded 7 billion dollars.