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