Astaldi Seeks $3.5 Billion in Loans for Suspension Bridge Over Turkish Bay

An Astaldi SpA-led group building the world’s second-longest suspension bridge in Turkey is seeking $3.5 billion of loans, according to the Italian builder.

Astaldi, Japan’s Itochu Corp. and IHI Corp. (7013) and five Turkish contractors are seeking the first slice of a loan to finance the $6 billion project which includes a highway linking Istanbul to Izmir and a crossing over Turkey’s Izmit Bay.

The consortium may seek more funds later, a spokeswoman for the Rome-based builder said.

The 420-kilometer (260-mile) Gebze-Izmir Highway and 3 kilometer (1.8 mile) suspension bridge is designed to cut travel time between Istanbul and Izmir by more than half to about three hours and boost trade with adjacent regions.

Izmit Bridge’s length is surpassed only by Japan’s Akashi- Kaikyo Bridge, according to Turkey’s state-run Anatolia news agency.

To contact the reporter on this story: Louise Meeson in London on and Ercan Ersoy in Istanbul at

To contact the editor responsible for this story: Faris Khan at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.