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Turkey plans to build world's largest airport

First phase of $9.3bn Istanbul airport would be open in 2017

NEWS, Build, Projects, Airport, Binali Yildirim, Istanbul, Largest, Turkey, World

Turkey plans to build what it said would be the largest airport in the world in Istanbul, eventually able to handle 150 million passengers per year, in a project which could cost more than $9.3bn

Transport minister Binali Yildirim said the deadline for bids to build the airport, which will be Istanbul's third and have a total of six runways, would be 3 May 2013. It was not clear when the contract would be awarded.

The airport will add vital capacity in the region and enhance the role of Istanbul, the hub for flag carrier Turkish Airlines, reports Reuters.

"At full capacity the new airport will be the largest in the world in terms of passengers," Yildirim told a news conference in Ankara. "We calculate the whole project will cost more than 7 billion euros excluding financing costs."

The tender issued will be for a 25-year lease in a four-stage project, with annual capacity of 90 million passengers planned for the first stage, Yildirim said.

"The final annual capacity of the airport will be 150 million. The first stage will be operational in 2017," he said.

The tender advertisement has been published in Turkey's Official Gazette.

Turkey's is the the fastest-growing in Europe and has advanced rapidly over the past decade under the leadership of Prime Minister Tayyip Erdogan.

The prime minister said the first stage of construction would be completed in three-to-four years.

Turkish airport operator and builder TAV and construction company Limak are among the companies that have expressed interest in bidding for the contract.

TAV also has the operating rights for Istanbul's Ataturk airport, the country's largest, until 2021. It said the Turkish airports authority would compensate it for any losses if the third airport opened while it was still running Ataturk.

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