Striking claim from CHP's Yavuzyılmaz regarding the 15 July Martyrs Bridge and FSM: Work underway for 25-year privatization

Yavuzyılmaz stated that a feasibility study has been commissioned to a foreign company for the 25-year privatization of the 15 July Martyrs and Fatih Sultan Mehmet bridges, noting that this would lead to public loss and a 100 percent hike in toll fees.

Deniz Yavuzyılmaz announced that they have determined a feasibility study has been commissioned to a foreign company for the privatization of the two bridges.

Yavuzyılmaz used the following expressions in his statement on his social media account:

"We have uncovered the AKP's new privatization plan! We have determined that a feasibility study has been commissioned to a foreign company for the 25-year privatization of the 15 July Martyrs Bridge and the Fatih Sultan Mehmet Bridge. The company for which the AKP commissioned the feasibility study is: BTY Construction Cost Consultants Co. (North America-based). The AKP is once again looking to mortgage Turkey's future. So, what is the rent of this privatization? Approximately 5 billion 597 million dollars!

How did I calculate it? According to the dollar equivalents of the 2024 official data: For the 15 July Martyrs Bridge; Revenue: 53 million 927 thousand dollars. Expenses: 1 million 760 thousand dollars. Annual net income: 52 million 166 thousand dollars. For the Fatih Sultan Mehmet Bridge; Revenue: 63 million 186 thousand dollars. Expenses: 3 million 412 thousand dollars. Annual net income: 59 million 774 thousand dollars. The total annual net income of the two bridges: 111 million 940 thousand dollars. The planned net income during the 25-year privatization process: 2 billion 798 million dollars.

"Abandon this privatization plan immediately"

Currently, the total annual vehicle traffic on the two bridges is 160 million, and this traffic is already at maximum capacity. In this case; if companies win the privatization tender with an amount below 2 billion 798 million dollars, a direct public loss will occur. Because this amount is already the state's current net income while operating these two bridges. If they win the tender by adding profit on top of this amount, they will increase the ‘vehicle toll fees’ by the amount of the additional profit they add. This is proof that the bill for privatization will again be paid by the citizens!

So, during the privatization process; how much of a hike is expected in vehicle toll fees if the 15 July Martyrs and Fatih Sultan Mehmet bridges are privatized? Based on the current 95 TL vehicle toll fee of the Yavuz Sultan Selim Bridge, which is operated by the private sector; a hike of approximately 100 percent is expected on the current 59 TL vehicle toll fee of the two bridges operated by the state. The 25-year net income with a 100 percent increase in the vehicle toll fees of the two bridges: 5 billion 597 million dollars. At the current exchange rate, 243 billion lira! Privatizing these bridges, the cost of which was paid for years ago with the taxes of the citizens, is a betrayal of the citizens! Abandon this privatization plan immediately!"

News Source: 12punto