Turkey's $12.7bn Istanbul New Airport to open this year
The construction of Istanbul's third airport is 85% complete, and a reported financial "bottleneck is out of question" for the project, the country's transport minister confirmed
A high-level Turkish official has denied that the Istanbul New Airport's billion-dollar development scheme is impacted by a financial "bottleneck".
Ahmet Arslan, Turkey's Minister of Transportation, Maritime Affairs, and Communications, said the megaproject, worth approximately $12.7bn, would complete on time.
A finance-led "bottleneck is out of question in the project", Arslan said, adding: "The project will be completed on time."
Arslan also revealed that the development is currently 85% complete, adding that contracting work is continuing as per the approved construction programme.
IGA – a consortium of Turkish companies Cengiz, Kolin, Limak, Mapa, and Kalyon – won the contract to build the airport in 2013.
As part of its agreement, the consortium will pay Turkey's government around $27.2bn each year to operate the airport over a 25-year period.
The project's first phase will open on 29 October, 2018, marking Turkey's 95th Republic Day.
Phase 1 of the project will feature a terminal spanning 102.2ha, and serve 90 million passengers each year.
Following the completion of all its phases – which includes the construction of six runways and eight air traffic control towers – Istanbul New Airport will boast an annual capacity of 200 million passengers.
Arslan's comments were made after select media reports stated that the "biggest airport project in the world" was facing "financial difficulty", according to Andalou Agency, the Turkish state press office.
Ground was broken on Turkey's megaproject in June 2014, in the presence of President Recep Tayyip Erdogan, then the country's prime minister.
Multiple local and international construction companies are involved with the four-phased project, and its stakeholders include Arcadis, which provided earthworks design services; Arup, which delivered masterplan and airfield planning; and Aecom UK, which worked with Deltatürk on airside design for the project.
Swiss equipment manufacturer, Liebherr, was involved with Phase 1 works for the project.
Liebherr delivered its full order of 58 cranes within less than a year of the order being signed.
Last January, it was revealed that Terex’s authorised distributor for aerial work platforms in Turkey had delivered eight Genie ZX-135/70 diesel-powered articulating boom lifts to specialised steel construction contractor Aksal Çelik for use on the Istanbul New Airport.