Investment

China in Turkey is widely known for its great wall which was built to keep Turkic attacks out. But, its about to change soon as a Chinese Merchants Group-led consortium is considering the acquisition of 33 percent stake in Istanbul’s Yavuz Sultan Selim Bridge, which currently belongs to Italy’s Astaldi.

Yavuz Sultan Selim Bridge, also known as the “the third bridge”, was constructed in a build-operate-transfer (BOT) model and will be operated by the private sector until 2026.

The $3-billion bridge was opened in August 2016.

It is a critical part of the Northern Marmara Highway project. The bridge is 2,164 meters long and stretches 1,408 meters over the Bosporus.

It has eight highway lanes and two railway lanes. Sources have also informed that Astaldi is looking to reach a deal by the end of the year.,

China Merchants Group is a state-owned corporation of People’s Republic of China. It is the major shareholder of China Merchants Holdings (International) (55.4%) as well as China Merchants Bank (18%).

The company’s headquarters are located in Hong Kong.

Share this article with your professional network:
October 4, 2018

China arrives in Turkey, not with its wall but with its bridge

China in Turkey is widely known for its great wall which was built to keep Turkic attacks out. But, its about to change soon as a Chinese […]
October 26, 2017

Turkey eyes to follow Marco Polo’s footsteps to bolster China’s One Belt, One Road

The Chinese coastal city of Taizhou is looking forward to expanded maritime cooperation with Turkey claimed Ms. Lihui Wu, the vice mayor of Taizhou city in China’s […]
October 20, 2017

Turkish Airlines taps Singapore’s SATS for in-flight catering services

SATS inked a memorandum of agreement (MOA) with Turkish Airlines (THY) that will allow its wholly-owned subsidiary SATS Investments Pte. Ltd to provide in-flight catering services […]
October 20, 2017

General Electric and Turk Telecom to invest in industrial IoT

Türk Telekom signed a deal with American energy conglomerate General Electric (GE) Digital to explore collaboration in the area of the industrial Internet of things (IoT). […]

Powered by MaviKelebek