CEO: Osman AÇIKALIN www.otoyolas.com.tr
Background; the tender for Motorway Project for Gebze -Orhangazi - Izmir (including İzmit Bay Crossing and Connection Roads) was conducted on 9 April 2009 and the proposal submitted by Nurol - Özaltın -Makyol - Astaldi - Yüksel - Göçay Group was selected as to be the best proposal with 22 years and 4 months construction and operating period.
OTOYOL YATIRIM VE İŞLETME A.Ş. was founded on 20 September 2010 to perform the works of construction, operation and transfer of Gebze - Orhangazi – Izmir (including İzmit Bay Crossing and Connection Roads) Motorway Project through Build - Operate - Transfer model.
The project implementation agreement was signed between the General Directorate of Highways and OTOYOL YATIRIM VE İŞLETME A.Ş. on 27 September 2010.
The ceremony for start of construction works in Gebze for Gebze - Orhangazi - Izmir Motorway Project took place on 28 October 2010 in Dilovasi district of Kocaeli Province and Ceremony for start of construction works in İzmir was held in Alsancak Cumhuriyet Square on 27 February 2011.
İstanbul - Bursa – İzmir Motorway Phase I, Intersections between Gebze and Gemlik (including Osmangazi Suspension Bridge) has been opened to traffic on July 1, 2016.
The construction and acceptance of Phase II A (Gemlik - Bursa) was completed and opened to traffic on 12 March 2017 with the opening ceremony.
The construction and acceptance of 69 km in the Section of Phase II B between (Balıkesir - Edremit) - İzmir Saruhanlı - Karasuluk intersections was completed and opened to traffic on 1 December 2018 with the opening ceremony.
Otoyol Yatırım ve İşletme A.Ş.
Procured services such as gulf soil surveys, motorway route soil surveys, signature of Motorway and Suspended Bridge construction contract and design works, legal infrastructure studies and project consultancy services for the motorway project and performed activities required for preliminary preparation activities in physical aspects and project financing.
The Project financing for Phase I (from Gebze to Gemlik Intersection including the Osmangazi Suspension Bridge) and Phase II A (from Gemlik Intersection to Bursa Intersection) were completed in the first quarter of 2013 and in the second quarter of 2014, respectively.
The process of refinancing this debt to extend the maturity and secure required additional funding of 3 billion USD for Phase II B (from Bursa Intersection to İzmir) was completed by signing the finance documents on June 05,2015. Thus, the funding required for the entire project in the form of refinanced loan of 2 billion USD for Phase I and Phase II A as well as funding required for Phase II B have been secured with a new loan package amounting to 4,956 billion USD. The total investment amount for the entire project is estimated to be 7,3 billion USD, funded from 4,956 billion USD debt, 1,5 billion USD equity and 800 million USD net early operational revenue. As of the end of January 2019, approximately 6,6 billion USD has been spent towards project costs, divided as follows: Phase I 2,80 billion USD, Phase II A 600 million USD and Phase II B 3,2 billion USD.
Akbank, Finansbank, Ziraat Bankası, Garanti Bankası, Halk Bankası, İş Bankası, Vakıflar Bankası, Yapı ve Kredi Bankası.
Deutsche Bank, Saudi National Commercial Bank, Bank of China, Siemens Bank.
Project and Route
As this new project will shorten the route about 140 km when compared to the current state highway, the travel time corresponding to 8-10 hours will be shortened to 3,5 – 4 hours, which will provide TL 870 million saving a year in turn.
The starting point of the project is Gebze and the Motorway crosses İzmit bay located between Dilovası and Hersek through a Suspension Bridge of approx 3.000 meters length, then will extend to Orhangazi and Gemlik and be connected to Bursa Ring Road at Ovaakça intersection.
Following the Bursa Ring Road which is already operational, the Motorway reaches Balıkesir starting with Bursa - Karacabey intersection and continuing through the north of Susurluk. It continues south from the west of Balıkesir, ahead via Savaştepe, Soma, Kırkağaç districts and continues towards the west near Turgutlu. It moves along paralel to İzmir - Uşak state highway and finally connects with Anadolu Lisesi intersection over the İzmir ring road.
The project has a total length of 433 km including a highway length of 384 km and an access road length of 49 km. Along the route, there are 38 viaducts with a total length of 21.559 m, including the Osmangazi Suspension Bridge and the Northern / Southern Approach Viaducts, 3 tunnels with a total length of 6.446 m, 176 bridges, 20 toll collection areas, 24 intersections, 4 Highways and 2 Tunnel Maintenance-Operation Centres, as well as 35 Service Stations and Parking Areas.
Phone : +90 (312) 291 3300
Fax :+90 (312) 266 0995
Address:Üniversiteliler Mah. Bilkent Plaza A3 Blok No:21-24 Bilkent
Çankaya 06800 ANKARA - TURKEY