| The privatization of Turkey's highways and bridges will | | | | since then much debate has revolved around this plan. |
| not be completed until the route of a new bridge to be | | | | The government floated the proposal because the |
| constructed over the Bosporus has been definitively | | | | current bridges are working beyond their normal |
| determined, sources close to the Privatization | | | | capacity, whereas opponents claim the city's current |
| Administration (ÖİB) said. According to the | | | | infrastructure cannot support a third bridge. The |
| sources, who spoke on condition of anonymity, the | | | | Bosporus Bridge has a capacity of 120,000 vehicles |
| ÖİB asked the General Directorate of | | | | per day, and the second bridge may technically allow |
| Highways (KGM) to clarify the route of the new bridge | | | | 160,000 vehicles to pass over it. However, more than |
| and the roads connecting it to main arteries as soon | | | | 200,000 motorists cross each of the bridges daily, and |
| as possible since any delay in this issue could cause | | | | this situation becomes more frustrating for them with |
| the privatizations to slow. | | | | every passing day. Moreover, as the high number of |
| An announcement of the new bridge's route is being | | | | cars on the bridges has become the main reason for |
| anxiously awaited by parties interested in the | | | | traffic jams during rush hours, the need to construct a |
| privatization, since this will have a direct impact on the | | | | third bridge has become one of highest priority items in |
| amount of their initial bids. If the bridge is constructed | | | | the government's agenda for İstanbul. |
| between the two existing bridges -- the Bosporus | | | | No more speculation |
| Bridge and the Fatih Sultan Mehmet (FSM) Bridge -- it | | | | Clarification of the new route will put an end to land |
| will attract much of the traffic of these two bridges, | | | | speculation as well. Some people in the real estate |
| providing much higher revenues for its operator. But if | | | | business were devising alternative routes for the third |
| the bridge is built north of the FSM, between | | | | bridge to manipulate real estate prices in those areas. |
| İstanbul's Sarıyer and Beykoz districts, | | | | From time to time in the last four years, rumors over |
| only a small number of vehicles will opt to pass over it, | | | | the following six alternate routes have emerged: |
| with the result that traffic will not decrease dramatically | | | | Nakkaştepe-Ortaköy, |
| on the Bosporus and FSM bridges. | | | | Vaniköy-Arnavutköy, |
| To summarize, in the first alternative the value of and | | | | Çubuklu-Yeniköy, Beykoz-Kireçburnu, |
| privatization revenue from the existing bridges will fall | | | | Yuşatepesi-Rumelikavağı and |
| significantly whereas the third bridge will bring in larger | | | | Garipçe-Poyrazköy. |
| sums. For the latter option, however, the third bridge will | | | | The route will be determined depending on a number |
| not yield a good value but the state will earn larger | | | | of parameters. It has to offer an effective solution to |
| revenue from the sale of the other two bridges. | | | | the traffic problem without causing distress to the |
| Considering the drastic effect the new route will have, | | | | environment and historical texture of the city. Cost is |
| domestic and foreign companies bidding on the | | | | another important factor. Five foreign companies have |
| operation of the highways and bridges in March 2008 | | | | so far declared interest in the sale of the bridges and |
| also want more clarification about the new route. | | | | highways. These are Macquarie Infrastructure of |
| The plan to construct a third bridge was first | | | | Australia, Abertis from Spain, the Portuguese Brisa, |
| announced by the government four years ago, and | | | | Itochu Corp. of Japan and Atlantia SpA from Italy. |