€200 million for Istanbul-Ankara high speed rail line

By Helen Wright11 June 2013

The European Investment Bank (EIB) has provided a further €200 million to support an upgrade to Turkey’s rail corridor between the capital, Ankara, and the country’s largest city, Istanbul, to a high speed line.

This additional funding brings total EIB support for the country’s first high speed rail line to €1.5 billion. The 490km rail line will interconnect with the Marmaray Bosphorus rail tunnel, also supported by EIB funds.

Developed by Turkish State Railways, the project constitutes a key element of the government’s plans to increase the share of rail transport by improving the productivity and effectiveness of railway operations.

The project also forms part of Pan-European Corridor IV, and as such the EU is also providing a grant of €120 million to support construction.

EIB President Werner Hoyer said, “Since 2005, we have seen a surge in the Bank’s activity, which now stands at a robust annual volume of some €2 billion. That makes Turkey the biggest recipient country by far of EIB funds outside the Union, and would even put it as the seventh largest beneficiary country in the Union. This growth in EIB financing is a reflection of the changes that have taken place within Turkey, and also between Turkey and the EU.”

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, World Construction Week Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Longer Reads
10 ways to join the hydrogen power revolution
Interest in the use of hydrogen has soared over the past few years as the construction industry races to reduce its carbon footprint. We roundup some recent initiatives
Telescopic boom lifts - the trends
Higher capacities and 100% electric models are the trend. And what lies ahead for 200ft models, or above?
How construction can become sustainable
The construction industry is undergoing a transformative shift to adapt more environmentally friendly practices
CONNECT WITH THE TEAM
Andy Brown Editor, International Construction Tel: +44 (0) 1892 786 224 E-mail: andy.brown@khl.com
Simon Kelly Sales Manager Tel: +44 (0) 1892 786 223 E-mail: simon.kelly@khl.com
CONNECT WITH SOCIAL MEDIA