{"id":50332,"date":"2024-11-01T14:09:37","date_gmt":"2024-11-01T05:09:37","guid":{"rendered":"https:\/\/news.samsungcnt.com\/en\/?p=50332"},"modified":"2024-11-01T15:20:58","modified_gmt":"2024-11-01T06:20:58","slug":"samsung-campt-secures-bid-to-expand-major-highway-in-istanbul-turkiye","status":"publish","type":"post","link":"https:\/\/news.samsungcnt.com\/en\/features\/engineering-construction\/2024-11-samsung-campt-secures-bid-to-expand-major-highway-in-istanbul-turkiye\/","title":{"rendered":"Samsung C&T Secures Bid to Expand Major Highway in Istanbul, T\u00fcrkiye"},"content":{"rendered":"\t\t
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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\u2019s capital to enhance the city\u2019s connectivity, travel efficiency, and road safety with Turkish company R\u00f6nesans Holding.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\"Oh
Oh Se-chul, CEO of Samsung C&T Corporation (left) and Mr. Erman Il\u0131cak, Founder and Chairman of R\u00f6nesans Holding (right) at the signing ceremony for the Nakka\u015f-Ba\u015fak\u015fehir highway project in Turkiye <\/figcaption><\/figure><\/div>
\"Oh
Oh Se-chul, CEO of Samsung C&T Corporation (3rd from the left) and Erman Il\u0131cak, President of R\u00f6nesans Holding (4th from the left) at the signing ceremony for the Nakka\u015f-Ba\u015fak\u015fehir highway project in Turkiye <\/figcaption><\/figure><\/div>\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t
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Samsung C&T Engineering and Construction Group has announced that it will participate in the investment, construction, and operation of a new highway in T\u00fcrkiye. With this project, the group plans to expand its positioning as a leading global developer in the construction industry.<\/p>

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.<\/p>

Together, this consortium will form a concessionaire with T\u00fcrkiye’s R\u00f6nesans Holding to develop, construct, and operate the Nakka\u015f-Ba\u015fak\u015fehir section of the Northern Marmara Motorway. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\"Construction
Construction begins on new cable-stayed bridge along the Nakka\u015f-Ba\u015fak\u015fehir section of the Northern Marmara Motorway in Turkiye <\/figcaption><\/figure><\/div>
\"The
The Nakka\u015f-Ba\u015fak\u015fehir section of the Northern Marmara Motorway in Turkiye <\/figcaption><\/figure><\/div>\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t
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The Nakkas-Basaksehir Highway Project<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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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.<\/p>

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 T\u00fcrkiye 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.<\/p>

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.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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A map of Turkiye\u2019s Northern Marmara Motorway (Map sourced from Google Maps)<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Expanding Samsung C&T\u2019s Global Development Business <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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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 T\u00fcrkiye’s metropolitan transport expansion plan.<\/p>

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.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Government Officials Attend Signing Ceremony in T\u00fcrkiye <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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At the signing ceremony for the Nakka\u015f-Ba\u015fak\u015fehir highway project, held in T\u00fcrkiye, high-ranking officials from the Turkish government, including the Minister of Transport and Infrastructure, along with representatives from R\u00f6nesans Holding and the Korean consortium of investors, were in attendance. Samsung C&T\u2019s CEO Oh Se-chul and senior officials from Korea Expressway Corporation, KIND, and KDB Asset Management were also present.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Strengthening Opportunities for the Future in Global Markets<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\u201cWe 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 \u201cK-Team\u201d with the technical capabilities of Korean construction companies and the policy support of public institutions such as Korea Expressway Corporation, KIND, and PIS Fund,\u201d stated a representative from Samsung C&T Corporation. \u201cWe will continue to build on the success of our business with R\u00f6nesans and use it as an opportunity to expand our collaboration throughout Turkiye, the Commonwealth of Independent States (CIS), and Eastern European markets.\u201d<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\"An
Incheon Cable Stayed Bridge built by Samsung C&T <\/figcaption><\/figure><\/div>
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The WCX3a underground highway tunnel in Sydney, Australia <\/figcaption><\/figure><\/div>
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The Mersey Gateway that passes through the Liverpool Mersey River in the United Kingdom <\/figcaption><\/figure><\/div>\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t
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Samsung C&T\u2019s Global Leadership in Civil Infrastructure <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Samsung C&T has solidified its position as a global leader in civil infrastructure through the successful completion of major projects worldwide, including:<\/p>

  • Incheon Bridge, South Korea<\/strong>
    Completed in 2009, this cable-stayed bridge is the longest in Korea, connecting Seoul to Incheon International Airport.<\/li>
  • WCX3a Underground Highway Tunnel, Australia<\/strong>
    Completed in 2023, this tunnel is a key component of Sydney’s road network.<\/li>
  • Mersey Gateway, UK<\/strong>
    Completed in 2018, this project comprised a 2.13km six-lane bridge and a 1km long cable-stayed bridge.<\/li><\/ul>

    \u00a0<\/p>

    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.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

    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\u2019s capital to enhance the city\u2019s connectivity, travel efficiency, and road safety with Turkish company R\u00f6nesans Holding. Oh Se-chul, CEO of Samsung C&T Corporation (left) and Mr. Erman Il\u0131cak, Founder and Chairman […]<\/p>\n","protected":false},"author":1,"featured_media":50333,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14],"tags":[],"class_list":["post-50332","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-engineering-construction"],"acf":[],"yoast_head":"\nSamsung C&T Secures Bid to Expand Major Highway in Istanbul, T\u00fcrkiye - Samsung C&T Newsroom<\/title>\n<meta name=\"description\" content=\"Samsung C&T Corporation has formed a consortium of Korean investors and is working with R\u00f6nesans Holding to manage a major highway project in Turkiye\u2019s capital.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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