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The Turkish government is considering privatizing the operating rights of Istanbul’s two iconic bridges, the Fatih Sultan Mehmet and the 15 July Martyrs, in a multibillion-dollar deal aimed at easing the central government budget, Bloomberg reported on Monday.
According to the report, the Turkish Privatization Administration has reportedly sent requests for proposals to investment banks regarding the assets, sources related to the matter said.
The state-run General Directorate of Highways, known by its Turkish acronym KGM, currently manages the bridges and toll roads.
The current effort comes as Treasury and Finance Minister Mehmet Simsek seeks new revenue streams to reduce Türkiye’s budget deficit, which is projected to reach 3.6% of gross domestic product (GDP) by the end of the year, according to the newly unveiled Medium-Term Program on Monday. However, this remains one of the biggest challenges for the economic team, given the high interest burden.
A deal of this scale, if completed, would represent one of the largest privatizations in the country’s history, the sources said.
The Privatization Administration and the Ministry of Treasury and Finance have not commented on the matter. Sources stressed that discussions remain at an early stage and there is no guarantee that an agreement will be finalized.
A similar privatization attempt was made in 2012, when the operating rights to the two bridges and about 2,000 kilometers (1,243 miles) of highways were offered in a tender. The winning bid of $5.7 billion came from a consortium including Türkiye’s Koc Holding, Gozde Girisim, and Malaysia’s UEM Group. However, then-Prime Minister Recep Tayyip Erdogan rejected the offer, calling it too low and stating that selling the rights for under $7 billion would be "treason".
The FSM Bridge, often referred to as the “second necklace of the Bosporus,” has served an average of 230,000 vehicles per day since its opening, with a total of 2.1 billion vehicles crossing to date. In 2024 alone, 71.8 million vehicles passed over the 15 July Martyrs Bridge.
Both bridges frequently come under public attention due to increases in toll fees.
Türkiye collected a combined ₺1.08 billion ($26.17 million) in revenue from bridges, highways, and tunnels during the first seven months of 2025, representing one of the smallest portions of total turnover, according to the ministry’s figures.
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