| Project Detail |
To improve Istanbul’s connectivity and alleviate its traffic load by developing, building and operating a new toll road corridor under a build-operate-transfer (BOT) concession.
DESCRIPTION
The North Marmara Highway (NMH) is a 438-kilometer (Km) dual carriageway toll road connecting Asia and Europe through the Yavuz Sultan Selim (YSS) Bridge that provides uninterrupted traffic flow across the Bosporus strait. NMH was developed as an alternative route to the European Road 80 (E80) also known as Trans European Motorway (TEM). The first seven sections of the NMH, including the YSS Bridge, have been completed and are under operation.
The Project is the eighth section of the NMH, currently under development. It comprises a new toll road linking the Nakkas and Basaksehir junctions, and connecting the districts of Arnavutköy, Büyükçekmece and Basaksehir, on the European side of Istanbul. The 4-lane dual toll road’s total length is 30.64 Km, including connecting roads, a 1,619m long cable-stayed bridge at Sazlidere, 18 overpass bridges, 18 underpasses, 10 interchanges, and 5 viaducts.
The Project is part of the General Directorate of Highways (KGM)’s Development Program. It has a total cost of over EUR1.2 billion and a concession term of 20 years, including both the construction and operations phases. The Project’s BOT Agreement contemplates a minimum guaranteed annual average daily passenger car unit volume.
The Project was awarded on June 30, 2020, through an open tender process organized by the General Directorate of Highways (KGM) to a subsidiary of Rönesans Holding A.S. (Rönesans or the Sponsor), a diversified holding company with activities in construction, real estate development, energy, and healthcare. The implementation agreement was entered on April 13, 2021. A dedicated long-term investment vehicle managed by Meridiam SAS (Meridiam), a global infrastructure asset manager incorporated in France, is considering investing in the Project. The Project entity and Borrower of the loan is Nakkas Otoyol Yatirim ve Isletme A.S. (the Borrower).
Upon completion, the Project is expected to significantly enhance economic activity of the Istanbul region and contribute to its socio-economic development. As an integral part of the NMH, the Project will also contribute to enhance the east-west road connectivity of the Marmara Region with Europe, as well as with Central Anatolia and the Aegean regions, where the majority of Türkiye’s industrial activity concentrates. Given its urban nature, the Project is expected to positively impact the city’s road network and facilitate its decongestion. Positive effects such as higher vehicle average speeds, shorter journey times, reduced greenhouse gas (GHG) emissions, and improvement in overall road safety conditions are expected.
The Project will also contribute to the uptake of electric vehicles (EV) through the provision of EV charging stations, apply energy efficient technologies like LED lighting and LED information panels, and implement a smart motorway management and monitoring system to support the efficient operation and maintenance of the highway.
The Project incorporates climate change resilience and geotechnical factors in the design of the road and the cable-stayed bridge. Improved design applications, such as elevation of ground level, use of stone mastic asphalt (SMA) and increased culvert and drainage capacity will improve the climate resilience of the Project in the face of extreme heat, flood, landslide, winds, and wildfires, among other incidents. The evaluation of climate resilience aspects was done in accordance with the Joint MDB Methodology for Tracking Adaptation Finance. |
