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Turkey resumes Istanbul Bridges privatization
Turkey intends to sell the operating rights for two major bridges in Istanbul, the July 15 Martyrs Bridge and the Sultan Mehmet the Conqueror Bridge, for a period of 30 years as part of a multi-billion dollar privatization plan. This move comes after the government rejected a previous offer of $5.7 billion, and aims to complete the proceedings by the end of 2031. The bridges, which connect the European and Asian sides across the Bosporus Strait, generate annual profits estimated at $600 million, with tax revenues amounting to approximately $53 million in 2025.
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