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Türkiye is reportedly entering talks to privatize two landmark Istanbul bridges, the 15 July Martyrs and Fatih Sultan Mehmet bridges, with global auditing firm Ernst & Young appointed as advisor to the process, according to a Bloomberg report published Thursday.
The London-headquartered firm is expected to guide the transfer of long-term operating rights for the two bridges, together with Canada-based BTY Group, which has been appointed as the technical advisor for the transaction that could reach multi billion dollars, the report said, citing people familiar with the matter.
The 15 July Martyrs Bridge is the oldest of Istanbul’s crossings over the Bosphorus Strait, opened in 1973 and spanning about 1,560 meters (5,118 feet) to connect Europe and Asia. The Fatih Sultan Mehmet Bridge, completed in 1988, lies north of the first bridge and extends approximately 1,510 meters (4,954 feet) across the same strait as part of the city’s main east‑west road network.
The plan also includes nine additional toll roads across the country, the report added, noting that both firms and government sources were not available for comment. The transaction details remain confidential, and no further disclosures have been made at this stage, but the report emphasized that bids for the two bridges are expected to come in above the $7 billion valuation previously set by the Turkish government.
After Bloomberg brought the matter into the spotlight for the first time in September 2025, the Treasury and Finance Ministry did not confirm the development but stated that "operating and maintenance rights can be transferred to the private sector for a limited period."
According to official figures, roads and bridges in Türkiye saw more than 1.12 billion vehicle crossings in 2025. Of these, 586 million crossings took place on six state-owned highways and the 15 July Martyrs and Fatih Sultan Mehmet bridges, which are now said to be under consideration for privatization.
The revenues collected from these crossings amounted to ₺1.88 billion ($43.17 million), Treasury figures show.
On the other hand, Türkiye projects ₺185 billion ($4.24 billion) in privatization revenue for 2026 in the Medium-Term Program.
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