According to Cahit Turhan, the third bridge will have six lanes and two rail tracks, at a projected cost of $4 billion.
Turhan said a new highway is also needed along the Adapazarı-Tekirdağ route due to increasing traffic. The third bridge will connect with this highway on either side of the strait.
Plans for the third bridge were drawn up in 1993 and Istanbul Metropolitan Municipality has been tasked with selecting its location.
"We will issue a tender on the build-operate-transfer method for the bridge by September at the latest," said Turhan, who added that the bridge would be approximately 1,300 meters in length and the new highway would stretch for about 300 kilometers. Turhan said he expects the project to be completed within five years and that the highway would have eight lanes within Istanbul and six lanes along the rest of its route.
Guarantees of a minimum amount of traffic will be given to the operators of both the third bridge and the highway.