Istanbul Strait Road Tunnel Project – From Concept to Operation

"INTRODUCTION Istanbul is a unique megalopolis connecting two continents. Population growth and economic development require permanent solutions and continuous investments on the transportation infrastructure. While the average population growth rate in Turkey is around 1.3% per annum, Istanbul is growing at an even faster rate of more than 1.5%. Even more striking is the fact that car ownership in Istanbul is increasing 5% a year, which is four times faster than the population growth. Although Istanbul Metropolitan Municipality (IMM) has worked persistently to improve the quantity and quality of the public transportation system in the city through, in particular, extending the available rail system network, the need for extra roads has always fallen behind demand. To make things worse, Istanbul is divided by the Bosphorus Strait, the large waterway connecting the Black Sea to the north and Marmara Sea to the south, which leads to the Mediterranean. This waterway is crossed via two suspension bridges, the Bosphorus Bridge built in 1973 and the Fatih Sultan Mehmet Bridge built in 1988. Current daily traffic across the bridges is around 450,000 vehicles per day. Ever increasing cross-Bosphorus traffic demands require other routes to be in place a soon as possible. While a third bridge farther north is currently under construction, yet another tunnel crossing is coming to the end of construction and is planned to be in service by December 2016. Being implemented under a Build-Operate-Transfer (BOT) model, Istanbul Strait Road Tunnel Project (ISRTP, the Project) has been under the spotlight not only because of its distinctive technical characteristics but also because of its robust business model, exacting financial and legal arrangements, diverse stakeholders and challenging organizational management structure. The following paragraphs offer an overall view of the Project from inception to where it stands now and extend to the imminent operational phase, touching lightly on all major aspects of this challenging journey."