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Funding for the third airport in Istanbul

The signing ceremony of the agreement on the first stage of construction's financing of the airport was held in Istanbul with the participation of the Turkish President and Prime Minister

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An agreement is signed on the financing of the third airport in Istanbul. Three state and three foreign banks will give a loan of 4.5 billion euros to one construction company which consists of five construction companies to build a third airport in Istanbul. The signing ceremony of the agreement on the first stage of construction’s financing of the airport was held in Istanbul with the participation of the Turkish President and Prime Minister.

The payment period of the loan is 16 years. Total investment in the project is 10.2 billion euros, making it the largest project in

During his speech at the ceremony, Erdogan said that the project will be the beginning of a new era for the banking, construction sectors and the Turkish civil aviation sector.

“After the completion of all project’s stages, Turkey and particularly Istanbul, will become a global center of world air traffic,” – said the president.

The third airport in Istanbul, is expected to become the largest in the world in terms of capacity, which will receive about 200 million passengers a year.

The airport will have four terminals which will be connected to the railway system, the three building maintenance, eight towers for flight services, air traffic control, six runways, 16 taxiways, hangar area – 6.5 million square meters for 500 aircraft, about 70 000 seats in the parking lot, medical clinic, fire department, hotels, a conference center and recycling points. At the construction of the new airport will be engaged more than 100 000 people. The authorities also expect an increase of property prices in Istanbul.

The airport will be connected with the Istanbul metro and multilane highway.

The partial opening of the airport is planned for the first quarter, 2018.

 

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