JV GETS USD 960M FOR ISTANBUL TUNNEL

摘要

A joint venture group led by South Korean contractors got a USD 960M loan to help finance a subsea road tunnel in Istanbul. The 18-year deal for the Istanbul Strait Road Crossing Project, also known as The Eurasia Tunnel Project, was signed last month. South Korea's SK Holdings (SKEC), Kukdong Engineering Et Construction, Samwhan, and Hanshin Construction together with Turkey's Yapi Merkezi won the government contract in 2008 to build the roads and the tunnel.