Turkey called off a $5.7 billion tender for the privatization of toll roads and bridges over the Bosporus for a second time.
A consortium made up of Koç Holding, Turkey’s biggest company and its partners Gözde Girişim and Malaysia’s UEM Group Berhad initially won the tender in December 2012 but in 2013 government claimed the bid price was not high enough and cancelled the deal.
The new tender’s original March 6 date had previously been rescheduled for May 6. The tender will now be held in two stages; the bidding for the section between Kurtköy and Akyazı on the Asian side will be held on June 30, while that for the section between Kınalı and Odayeri on the European side will be held on July 7.
The new Bosporus bridge is expected to be completed on Oct. 29, 2015, in time for Turkey’s Independence Day holiday, and access to the roads is to be completed in 2018.