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Turkish Banks Bid to Finance Third Bosporus Bridge, Star Says

Turkish banks submitted proposals to Astaldi SpA (AST) of Italy and its local partner, Ictas Insaat Sanayi Ticaret AS, to finance construction of a third bridge over the Bosporus in Istanbul, Star reported.

Turkiye Vakiflar Bankasi TAO (VAKBN), a state-run bank, is among those submitting proposals, the newspaper said, without saying where it got the information. Suleyman Kalkan, Vakifbank’s chief executive officer, said last week the bank wants to finance the bridge, Star added.

The Astaldi-Ictas partnership is in talks with five groups of banks on the project, which includes building and operating the bridge and connecting roads, Star said, without giving a figure for the amount of financing needed.

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To contact the reporter on this story: Sibel Akbay in Istanbul at sakbay@bloomberg.net

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net

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