Samsung C&T Corporation has formed a consortium of Korean investors to manage the investment, construction, and operation of a major highway project in Turkiye’s capital to enhance the city’s connectivity, travel efficiency, and road safety with Turkish company Rönesans Holding.
Samsung C&T Engineering and Construction Group has announced that it will participate in the investment, construction, and operation of a new highway in Türkiye. With this project, the group plans to expand its positioning as a leading global developer in the construction industry.
Samsung C&T has formed a Korean consortium of investors for the project, including Korea Overseas Infrastructure and Urban Development Corporation (KIND), Korea Expressway Corporation, and PIS Fund, an investment trust set up by the Korean Government.
Together, this consortium will form a concessionaire with Türkiye’s Rönesans Holding to develop, construct, and operate the Nakkaş-Başakşehir section of the Northern Marmara Motorway.
The Nakkas-Basaksehir Highway Project
The project is the eighth section of the Northern Marmara Highway, which will connect the city center south of Istanbul New Airport in Turkkiye to the European region. It will include 31.3 kilometers of highway spanning six to eight lanes and a 1.6-kilometer cable-stayed bridge.
The project is scheduled for completion in 2027 and is a public private partnership (PPP) that will be privately operated for a period of time before being handed over to the Türkiye government. The Turkish government will grant the concessionaire the right to operate the project for 15.5 years after completion while guaranteeing minimum traffic volumes and tolls.
Samsung C&T will carry out the procurement of the highway construction based on its extensive capabilities, technology, and experience with global projects and will also participate in the post-construction operation with Korea Expressway Corporation. The total project cost is approximately USD $1.6 billion, with toll revenues of more than $4.4 billion expected over the 15-year operation period. Samsung C&T is expected to receive additional operating revenues in addition to the $260 billion KRW in construction orders.
Expanding Samsung C&T’s Global Development Business
Samsung C&T has built strong partnerships with local Turkish companies, allowing it to participate in this critical infrastructure project, which is a major part of Türkiye’s metropolitan transport expansion plan.
The company aims to move beyond traditional construction projects and participate in investment and development opportunities ranging from equity investment and operation in the global infrastructure market, further strengthening its position as a global developer. Samsung C&T plans to seize opportunities in Turkey’s expanding infrastructure market and explore markets in Europe and the Middle East.
Government Officials Attend Signing Ceremony in Türkiye
At the signing ceremony for the Nakkaş-Başakşehir highway project, held in Türkiye, high-ranking officials from the Turkish government, including the Minister of Transport and Infrastructure, along with representatives from Rönesans Holding and the Korean consortium of investors, were in attendance. Samsung C&T’s CEO Oh Se-chul and senior officials from Korea Expressway Corporation, KIND, and KDB Asset Management were also present.
Strengthening Opportunities for the Future in Global Markets
“We expect this project to be an opportunity to raise the level of economic cooperation between the two countries. It is even more meaningful that we can achieve results as a “K-Team” with the technical capabilities of Korean construction companies and the policy support of public institutions such as Korea Expressway Corporation, KIND, and PIS Fund,” stated a representative from Samsung C&T Corporation. “We will continue to build on the success of our business with Rönesans and use it as an opportunity to expand our collaboration throughout Turkiye, the Commonwealth of Independent States (CIS), and Eastern European markets.”
Samsung C&T’s Global Leadership in Civil Infrastructure
Samsung C&T has solidified its position as a global leader in civil infrastructure through the successful completion of major projects worldwide, including:
- Incheon Bridge, South Korea
Completed in 2009, this cable-stayed bridge is the longest in Korea, connecting Seoul to Incheon International Airport. - WCX3a Underground Highway Tunnel, Australia
Completed in 2023, this tunnel is a key component of Sydney’s road network. - Mersey Gateway, UK
Completed in 2018, this project comprised a 2.13km six-lane bridge and a 1km long cable-stayed bridge.
These collaborations with leading construction companies worldwide demonstrate Samsung C&T’s technological prowess and commitment to innovation, driving its continued growth and success in the global market.
