The Islamic Corporation for the Development of the Private Sector (ICD) has made a significant investment of EUR 40 million towards the Nakkaş-Başakşehir section of Türkiye’s Northern Marmara Highway Project. This funding is part of a larger financing package totaling EUR 1.04 billion aimed at enhancing infrastructure and promoting sustainability in the region.
Designed to bolster connectivity across Istanbul, this highway project is expected to improve east-west transportation links, enhance road safety, and alleviate traffic congestion. The initiative is being executed under a build-operate-transfer agreement led by a consortium that includes Rönesans Holding A.Ş., in collaboration with Samsung C&T Corporation and other investors from Korea.
The Nakkaş-Başakşehir section encompasses a toll road stretching 31.3 kilometers, featuring a notable 1.6-kilometer cable-stayed bridge along with multiple overpasses and underpasses. This ambitious project is set to not only improve travel efficiency but also integrate innovative energy solutions to minimize environmental impact.
ICD’s contribution forms part of a comprehensive senior debt package that has been fully financed by a consortium of international financial institutions. These include the European Bank for Reconstruction and Development (EBRD), the Asian Infrastructure Investment Bank (AIIB), and the Islamic Development Bank (IsDB), along with European export credit agencies such as Atradius and SERV, as well as the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), and various commercial lenders.
One of the standout features of the Nakkaş-Başakşehir project is its commitment to sustainability. The project will incorporate a Solar Energy Production System designed to meet the operational energy needs of the highway’s management center and service stations. This initiative aligns with global trends toward renewable energy and reflects a growing commitment to reducing carbon footprints in infrastructure projects.
In addition to solar energy, the project plans to install over 4,500 LED lamps, which will replace traditional sodium lamps. This transition is projected to lead to a remarkable 37.5% reduction in energy consumption, translating to savings of over 35 MWh. The overall design of the project also emphasizes the use of hybrid and electric vehicles for all operational activities, which is expected to result in a significant reduction of approximately 112 tons of CO2 emissions annually.
The ICD’s investment in the Nakkaş-Başakşehir section is a testament to its commitment to fostering private sector growth and sustainable development in Türkiye. By supporting projects that prioritize both economic development and environmental responsibility, ICD is playing a crucial role in shaping the future of infrastructure in the region.
As the Nakkaş-Başakşehir section of the Northern Marmara Highway Project progresses, it is poised to become a vital artery for transportation, linking key areas of Istanbul while setting a benchmark for sustainable infrastructure initiatives. This project not only reflects the growing importance of eco-friendly practices in construction but also highlights the collaborative efforts of various stakeholders to bring innovative solutions to modern infrastructure challenges.
The successful execution of this project is anticipated to have wide-ranging benefits, not just for the immediate region but also for the broader economic landscape of Türkiye. Enhanced connectivity will facilitate trade and mobility, thus contributing to the overall growth and development of the nation.
In conclusion, the Nakkaş-Başakşehir section of the Northern Marmara Highway Project represents a significant leap towards modernizing Türkiye’s infrastructure while adhering to sustainable practices. As the project unfolds, it will serve as a model for future initiatives that seek to balance economic growth with environmental stewardship.
