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Builder Astaldi says $2.3 bln loan for Turkey bridge sealed
May 27, 2014 / 9:02 AM / in 3 years

Builder Astaldi says $2.3 bln loan for Turkey bridge sealed

MILAN, May 27 (Reuters) - Italian builder Astaldi said on Tuesday a $2.3 billion loan with a pool of Turkish banks to finance the construction of a third bridge on the Bosphorus strait had been signed.

“Financial close allowed for the disbursement of a first loan tranche to be used for construction activities of the bridge, for which 25 percent of works have been completed to date,” Astaldi said in a statement.

The overall value of the investment totals about $2.9 billion and Astladi it owned a 33 percent stake in the project while IC Ictas had 67 percent. The concession has a 10-year duration with 30 months for construction activities, it said.

Reporting by Danilo Masoni

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