Kanal Istanbul sees first step

[FireFistAce]

The planned canal in european side of istanbul which will be around 40-50 km in length, 150 m in width and 25 m in depth and will cost approximately $10bn sees first step, according to Deputy Minister Ali Babacan.

"Turkish Deputy Prime Minister Ali Babacan said they had begun studies for the giant Kanal Istanbul project with the Turkish Transportation Ministry and would be working on structuring a partnership and tender model for it.

The project, which will set up an artificial waterway that will split Istanbul’s European side into two and create an island between the European and Asian sides, is the one of the most ambitious of the giant projects the Turkish government has been putting a special emphasis on.

“Yesterday I talked with our transportation minister on the phone and I told him, let’s create our format for the Kanal Istanbul and let’s make our tender,” Babacan told reporters yesterday during a press meeting he held in Ankara.

The project will be a private-public partnership project as it will be undertaken according to a build-operate-transfer model, Babacan said, adding all of these projects required a custom-made preparation process.

He also said the construction of the third Istanbul airport, which was recently won by a Turkish consortium for $22 billion, will probably be finished before Kanal Istanbul.

Aiming to soothe concerns about the financing of these giant transportation and urbanization projects like the third Istanbul airport and bridge, he said the government had been keeping an eye on the possible responsibilities that might hinder them.The markets do not have questions like whether these projects will put a burden on the state and the Treasury, he said, if they did, the Treasury’s debt interest rate wouldn’t be falling to historic low levels.

“There is no problem with state guarantees in mega projects as the risk is split over a long term,” he said.

The expectations from these projects also should be for the long term, he asserted."

ECONOMICS -

 

[T-123456]

Why not cutt a straight line?
After all its canal and shorter.

 

[atatwolf]

Why not cutt a straight line?
After all its canal and shorter.

Straight line is not always cheaper. Especially if you have to destroy infrastructure. It is better to go around, but I'm sure they made those calculations long before us

 

[LegionnairE]

Screw it, I like Istanbul just the way it is.

 

[Type 052D]

Screw it, I like Istanbul just the way it is.

For economic development to happen in the Thrace region, infrastructure projects Kanal Istanbul will be vital for the transportation of goods. Ports/Docks and oil refineries will stimulate economic development in Istanbul like in the city of Bursa. Keynesian Economic states that public works would help employment and bring fiscal goods to the region thus allowing employees to spend their real wages on products which creates the infamous 'multiplier' effect.

 

[LegionnairE]

For economic development to happen in the Thrace region, infrastructure projects Kanal Istanbul will be vital for the transportation of goods. Ports/Docks and oil refineries will stimulate economic development in Istanbul like in the city of Bursa. Keynesian Economic states that public works would help employment and bring fiscal goods to the region thus allowing employees to spend their real wages on products which creates the infamous 'multiplier' effect.

Please, land depth over there is barely 50 kilometers. At least throw BS in a realistic level. This won't make İstanbul more of a port city anymore than it already is. We have one of the longest coastlines around the globe already.

Sole goal of this project is to clear the bosphorus of commercial traffic but it conflicts with the Montreux straits convention. According to it in peacetime all civilian vessels are free to pass.

It's pointless. We have something unique here, a city that splits two continents and two seas from each other. If this happens it won't be the same, it'll look like NYC with an island in the middle.