Photo Courtesy of T-Engineering-Ceneva Final tranche from Turkish bankers will underwrite the country's third Bosporus Strait span. Related Links: Turkey Still Seeks Bids for Bosporus Crossing Byzantine Port, Botched Buildings With construction of Turkey's third Bosporus bridge about 25% done, its consortium has secured $2.3 billion of Turkish bank loans to complete the build-own-operate deal's project financing. The roughly 2.2-km-long bridge will cross the Black Sea mouth of the Bosporus waterway between Garipçe and Poyrazköy about 35 km north of Istanbul. Work began early last year and should end in 2016. Bankers finalized the final piece of funding on May
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.