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Turkey Secures $1.4B in Loans for More High-speed Rail
The line, under construction since 2022, will run 90 miles between Yerköy to Kayseri.
Image courtesy of Turkish Ministry of Transport and Infrastructure
The Turkish government has secured nearly $1.4 billion worth of foreign guaranteed loans toward construction of its latest high-speed railroad. Beginning at Yerköy, roughly midway along the east-west 250-mile Ankara-Sivas High-speed Railway, the offshoot line will run 90 miles southeast to Kayseri.
President Recep Tayyip Erdoğan formally launched the Yerköy-Kayseri project in July 2022, following a few months after the appointment of a three-firm Turkish joint venture.
"As one of the contractors for the Ankara-Sivas High-speed Railway...we are eager to bring our expertise to the Yerköy-Kayseri route," says Tolga Akkaş, general manager at Doğuş İnşaat ve Tic. A.Ş. Ankara to Sivas has been operating since April.
Akkaş also chairs the project's Doğuş-Çelikler-Özkar joint venture, which secured the infrastructure contract from Turkey's General Directorate of Infrastructural Investment with a $570-million bid. The scope includes excavating more than 62-million cu yd, erecting 1.5 miles of bridges and building six miles of tunnel, according to Doğuş.
Japan's Mitsubishi UFJ Financial Group led the arrangement of $1.1 billion of loans underwritten by the export credit agencies of Austria, Italy, Poland and the U.K. Another $241 million was underwritten by the Islamic Corp. for the Insurance of Investment and Export Credit.
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