"EIB Lends EUR 450 million for Bosphorus Tunnel in Istanbul
FinanzaMarmaray project, one of the world’s most ambitious urban transport projects and a milestone international railway link is connecting the Asian and European sides of the Bosphorus.
The European Investment Bank is extending a loan of EUR 450 million to the Republic of Turkey to part-finance the infrastructure of the urban rail system including an international railway link as well as an urban rail commuter project. The 76 km railway line will connect Halkali on the European side of the city with suburban Gebze on the Asia side, sharply reducing travel time between the two and helping relieve the city of the growing traffic congestion. The rail system will carry 75.000 passengers and hour and link with the municipal light-rapid rail system and metro. Some 63 km of the system will be above ground, while 14 km will be underground including a 1.4 km tunnel under the Bosphorus. Thirty-seven existing stations will be upgraded while three underground stations will be constructed. The project, scheduled for completion in March 2010 is supported in total with a EUR 650 million loan from the EIB. The Ministry of Transport’s Directorate General for Railroads, Ports and Airports’ construction is overseeing the project. "
More:Portalino - EIB Lends EUR 450 million for Bosphorus Tunnel in Istanbul
