Breaking ground on Feb. 28 in a ceremony attended by Turkey Prime Minister Tayyip Erdogan, a 5.4-kilometer twin-deck tunnel crossing beneath the Bosphorus’ seabed will join the European and Asian sides of Istanbul at a cost of $1.4 billion. Istanbul is the largest metropolitan city in Europe and third-largest city in the world, with a population of 13.2 million. The Istanbul Strait Road Tube Crossing, or the Eurasia Tunnel, will be designed, built, financed and operated by Avrasya Tüneli Isletme Insaat ve Yatirim Anonim Sirketi (ATAS), a partnership of Yap? Merkezi from Turkey and SK E&C, Kukdong, Samwhan Corp. and
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.