Turkiye secures funding for major rail freight project
- 5 days ago
- 1 min read
Türkiye has signed preliminary agreements with six international lenders to secure $6.75 billion for the Northern Ring Railway Project, the largest foreign-funded rail project in the country’s history.
The 125-kilometre railway line will run through northern Istanbul and connect the Asian and European sides of the Bosphorus via the Yavuz Sultan Selim Bridge. Once completed, the line is expected to transport 33 million passengers and 30 million tonnes of cargo annually, significantly increasing rail logistics capacity.
Funding agreements were reached with major institutions including the World Bank, Asian Infrastructure Investment Bank, Asian Development Bank, Islamic Development Bank, OPEC Fund for International Development and the European Bank for Reconstruction and Development.
Construction preparation is ongoing, and the government plans to complete the tender process and start work as soon as possible.
Key logistics impacts
Higher rail freight capacity between Asia and Europe
Faster cargo transport across the Bosphorus corridor
Improved intermodal logistics connections in Istanbul
Reduced road congestion and emissions
Image source: aa.com.tr
