Istanbul Canal Project... is the most discussed topic in, Turkey today, after the project was first announced by Recep Tayyip Erdogan, on April 27, 2011.
It has been described as the "Project of the Century" due to its strategic importance and economic returns. The Canal will cross the borders of the regions of Kucukcekmece, Avcilar, Basaksehir, and Arnavutkoy, and the connection of the project will be provided to the Black Sea in the north and the Sea of Marmara in the south.
What is the Istanbul Canal Project?
Canal Istanbul is an artificial waterway between the Black Sea and the Sea of Marmara to ease the movement of ships in the Bosporus Strait. The construction phase of the Istanbul Canal project is planned to be about 5 years and the minimum economic life will be 100 years. Within the scope of the project which will be approximately 45 kilometers long; It will contain 7 bridges, 2 railways, and 2 metro lines.
What is the purpose of the Istanbul Canal project?
Approximately 43,000 ships pass through the Bosporus annually. With the increase in the movement of ships and their size with technological developments and the fact that ships carry fuel and dangerous materials where there are always sharp turns and strong currents and thus the movement of ships in transport through waterways threatens the lives of millions of people living on both sides of the strait.
On the other hand, due to the one-way traffic regulation applied in terms of navigational safety in the Bosporus, the waiting time for large ships is about 14.5 hours. This waiting period can sometimes take up to 4 days depending on weather conditions.
What are the economic benefits of the Istanbul Canal Project?
As the Canal Istanbul project will not be subject to the Montreux Convention, it will average $5.5 per tonne the same as the Suez Canal. While ships of up to 150 light tons can pass through Suez, the Istanbul Canal will be suitable for ships with a tonnage of 300,000 tons. The Istanbul Canal, which will be 148 kilometers shorter than Suez, with a length of 193 kilometers, will increase its annual income to $8 billion if it is fully operational.
The Istanbul Canal, which is estimated to cost 40 billion dollars, will cover its costs, and begin to reap the returns within five years.
The project will create more than 1.5 million new jobs. Where the canal will attract large investment projects. It is expected that 50 million foreign visitors will visit Istanbul with a revenue of 20-30 billion dollars as a tourism income annually.
Is the idea of the Istanbul Canal project completely new?
The idea of creating an alternative waterway to the Bosphorus was also on the agenda more than 500 years ago during the reign of Sultan Suleiman. According to historical sources, was route identified at that time was intended to connect the Black Sea and Marmara through the Sakarya River, Sapanca Lake, and the Gulf of Izmit.
Advantages of buying a property in Turkey with Number One Real Estate:
Number One is one of the leading real estate investment companies in Turkey, providing all kinds of real estate services within the Turkish real estate market
We offer our clients all types of real estate from
Villas for sale in Istanbul by the sea, cheap real estate for sale in Istanbul, office apartments and shops in various regions of Istanbul, apartments within the most luxurious residential complexes in Turkey, we take care of the procedures for obtaining Turkish citizenship and real estate residence
Related Articles: