New contract won to develop Istanbul airport
The contract to operate Istanbul's Sabiha Gokcen Airport has been won by Malaysia Airports Holdings, Limak and GMR Infrastructure.
It is expected that the group will now invest 250 million euros (£169 million) in the development, hoping to build a new terminal and improve overall transport links, according to the undersecretariat for defense industries, reports Bloomberg.
The deal is believed to be worth around 1.93 billion euros. In addition, Ebru Ozdemir from Limak's board of directors said that the project will ultimately see 10 million passengers a year streaming through the terminal.
Moreover, the existing international terminal at the airport is set to be turned into an all-domestic terminal once a new one is constructed.
"The project will involve an initial capital outlay for $400 million. The airport will be handed over to us in 3 months after. We have 30 months to complete the construction," GMR Infrastructure's Madhu Tardal told the New Anatolian.
In related news, potential property investors may also be pleased to learn that the current political situation in Turkey could be on the verge of resolution, according to the prime minister.
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