A second Turkish motorway operation contract awarded to Egis within a year

On June 24th 2013, Egis signed a contract for the operation and maintenance of the Gebze-İzmir motorway in Turkey with OTOYOL AS, who is the concessionaire towards the Turkish General Directorate of Highways (“KGM”). This new contract is the second one for Egis in Turkey, following the Eurasia Tunnel awarded to Egis in December 2012 (a 5.4km twin-deck tunnel under the Bosphorus).

Photo © Alberto Tortola

01 July 2013

 

 

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Egis, the 50% shareholder of the operating company

OTOYOL YATIRIM ve IŞLETME A.Ş. (“OTOYOL”) was selected by the Turkish General Directorate of Highways (“KGM”) as the private concessionaire for the Project.

Following the execution of the Concession Agreement between the parties in September 2010, OTOYOL AS reached financial close for the Phase 1 on 15th of March 2013.

OTOYOL AS has been established for the purpose of the Project by five Turkish companies (Nurol İnşaat ve Ticaret A.Ş. Özaltın İnşaat Ticaret ve Sanayi A.Ş., Makyol İnşaat Sanayi Turizm ve Ticaret A.Ş., Yüksel İnşaat A.Ş. and Göçay İnşaat Taahhüt ve Ticaret A.Ş. and one Italian company, Astaldi S.p.A..

After a competitive bidding process, Egis has been selected by OTOYOL AS as its operation partner.

Egis will be the 50% shareholder of the operating company. The other 50% will be hold by the shareholders of the concession company.

The Operator will perform pre-operational services, operation, maintenance and tolling services for OTOYOL AS for a period of 22 years and 4 months.

Details of the project

The Gebze-İzmir Project is a toll motorway project procured by the Turkish General Directorate of Highways under a Build, Operate and Transfer (BOT) Model. This Project is the largest BOT project in Turkey to date. It includes 420 km of motorway (2x3 lanes) between Gebze (on the North shore of İzmit Bay) and İzmir, as well as a 3000m suspension bridge crossing İzmit bay, three tunnels with an approximate cumulative length of 6km and 20 toll stations. The project will be implemented in two phases. The first phase from km 0 (Gebze) to km 58 will include the 3000m Izmit bay suspension bridge which is one of the longest suspension bridges in the world by the length of central span.

The forecasted level of traffic for the first phase is about 40,000 vehicles per day.

The operation of the first phase will start at the end of 3.5 years of works and the second phase is forecasted to be under operation in mid-2020.

This new success strengthens Egis’ activities in tunnel and motorway operation, maintenance and tolling activities in Turkey.