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    Fast rail link enters second stage

    Hürriyet Haber
    14.10.2005 - 10:07 | Son Güncelleme:

    A Chinese-Turkish consortium placed the winning bid to construct the next stage of the fast rail link between Ankara and Istanbul. The link will reduce travel time between the capital and Istanbul to 3 hours and ten minutes. After long negotiations the Turkish state railways tender commission decided to award the tender to CRCC (China)-CMC (China)-Cengiz Construction (Turkey)-Ibrahim Cecen Ictas Construction consortium that gave the highest proposal of $1.2 million.

    The Chinese beat the Japanese, British, German and Italian rival bids. The credit needed for the project will be provided by the Chinese government with 2.5% interest and 20 years maturity. Following changes made over construction works the project will commence in 2007 as opposed to original plans for 2005.

    The Surat Railway Project developed a fast rail link in 1976-79, however the Ayas tunnel – part of the project – has failed to be completed.

    A decision over the second stage of the project is expected to be given in the coming days.

    The group consists of seven companies operating in the construction, tourism, energy, machinery and insurance sectors. Ictas Construction, which is also in the consortium and that took part in the Galataport tender, operates within the body of the Cecen Companies Group's IC Holding. The group is also a partner in the management of Antalya Airport’s International Terminal.




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