Italian construction group Astaldi has won roles in two projects worth over $1bn in Turkey.
For one, it is part of a consortium chosen to deliver a $665m turnkey contract for construction, electrical and civil engineering works on the Kirazli-HalkalÄ± section of the Istanbul metro. This will require boring 10km of double-tube tunnels as well as nine stations.
Astaldi has a 15% stake in this job; three Turkish firms, Makyol, Kalyon and Ictas, make up the rest of the team. Construction will take two and a half years.
The second scheme is a $353m deal for 80km of the Menemen-Candarli motorway in the province of Izmir, western Turkey. Astaldi has a 33% stake in this consortium, with Ictas and Kaylon holding the other two-thirds.
The transaction’s financial structure calls for the private capital equal to 20% of the total investment, which for Astaldi is $28m.
The project’s customer is the Ministry of Transport, and the work will involve 14 junctions, 11 bridges, 10 viaducts, seven motorway toll booths and three service areas.
Image: A train on the Istanbul underground (Wikimedia Commons/Ex13)