Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
Turkey has signed preliminary financing agreements worth USD 6.75 billion with six international institutions for the Northern Ring Railway Project, marking the country's largest foreign-funded rail investment. The 125 km corridor will run from Gebze to Halkali via the Yavuz Sultan Selim Bridge, linking Istanbul's two major airports and strengthening rail connectivity between Asia and Europe. Designed to carry 33 million passengers and 30 million tonnes of freight annually, the project aims to address capacity limits currently faced at the Marmaray tunnel crossing.
Turkey has entered into preliminary agreements with six international financial institutions to secure USD 6.75 billion in external funding for the Northern Ring Railway Project. This is the largest foreign-financed railway investment in the country's history. Advertisement
The lenders involved include the World Bank, the Asian Infrastructure Investment Bank, the Asian Development Bank, the Islamic Development Bank, the OPEC Fund for International Development and the European Bank for Reconstruction and Development. Transport authorities stated that the agreements reflect international backing for Turkey's long-term rail expansion strategy.
The Northern Ring Railway will span 125 km north of Istanbul. The line will start from Gebze, cross the Yavuz Sultan Selim Bridge over the Bosphorus and extend to Halkali. Importantly, it will directly connect Sabiha G-ken Airport and Istanbul Airport to the national railway network, creating an integrated passenger and freight corridor between the Asian and European sides of the city.
At present, uninterrupted rail freight movement across the Bosphorus depends on the Marmaray railway tunnel. However, freight operations through Marmaray are limited to specific hours due to heavy passenger traffic. Between 2020 and October 2025, only 1.7 million tonnes of freight were transported through the tunnel, highlighting capacity constraints.
Once operational, the Northern Ring Railway is expected to carry around 33 million passengers annually and transport nearly 30 million tonnes of freight each year. This marks a substantial increase compared to current cross-continental rail freight volumes and is expected to improve logistics efficiency along trans-European and trans-Asian corridors.
Officials indicated that preparations for the tender process are ongoing. The bidding process and site handover are planned to be completed later this year, after which construction activities are expected to begin. The project forms part of Turkey's broader plan to strengthen its position as a strategic transport bridge between Europe and Asia.
Source Reuters
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
