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French infrastructure operator Egis reportedly shows interest in Türkiye’s potential operating-rights privatization program for major Istanbul bridges, with the company already engaging with Turkish officials.
The two bridges, operated under the control of Türkiye’s General Directorate of Highways, are part of a wider privatization program covering major bridges, highways and ring roads unveiled earlier this month.
Egis already provides operations, maintenance, and electronic toll collection services at the Yavuz Sultan Selim Bridge and Northern Ring Motorway, the Osmangazi Bridge and Istanbul-Izmir Motorway, and the Eurasia Tunnel.
Companies from Japan, South Korea and Spain are also closely following the privatization process, ANKA News Agency reported.
Turkish infrastructure operators IC Ictas, Limak, Kalyon and Cengiz Holding are among the potential domestic investors, according to the report, which added that the companies could form consortia with foreign investors to take part in the privatization.
IC Ictas, Limak and Cengiz are already involved in the operation of the Northern Marmara Motorway, while Kalyon has participated in major highway construction projects including the Menemen-Aliaga-Candarli Motorway.
Under the government’s plan, the bridges, highways and ring roads can be transferred for operation or leased either as a single package or in separate groups. Other options include establishing non-ownership rights and revenue-sharing arrangements, while ownership of the assets remains with the state.
The assets could also be divided into three or four packages based on their economic integration, although sources stressed that no decision has yet been made on the structure of the privatization, according to the report.
Bloomberg reported in July that the government was preparing a new tender, with French infrastructure investor Meridiam and Turkish contractor Makyol among potential bidders. Euronews later reported that feasibility work could be completed by the end of August, while sources indicated that no decision had been made on the tender, valuation, scope or package.
An earlier attempt to privatize the Bosphorus bridges and 1,975 kilometers of highways in 2012 ended without a deal after the government rejected the winning $5.7 billion bid from a consortium of Koc Holding, Malaysia’s UEM Group and Gozde Girisim, setting a $7 billion minimum.
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