Wednesday 11 January 2012

Setback for $5bn Bosphorus plan | beyondbrics | News and views on emerging markets from the Financial Times – FT.com

Turkey’s grand infrastructure plans have suffered a big setback, with the failure of a showpiece tender – the $5bn project to build a third bridge over the Bosphorus and an accompanying highway.

The bridge, announced in the run-up to last year’s parliamentaryelections, is one of the “megaprojects” favoured by the government of Recep Tayyip Erdogan, Turkey’s prime minister. But although 18 companies expressed interest in the 414km project, none bid for the tender, which was cancelled as a result.

Reuters reported that Japan’s Obayashi, Mitsubishi, Itochu and IHI, Italy’s Astaldi, Russia’s Moskovskiy Metrostroy and NPO Mostovik, Austria’s Stradag, Spain’s FCC Construction and Turkey’s Mapa, Cengiz, Park, Varyap, Yuksel, Kolin, Nurol, STFA and Gulsan had all acquired official documents.

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