Turkey is moving ahead with a multibillion-dollar privatization plan centered on two of Istanbul's most famous crossings. The 15 July Martyrs and Fatih Sultan Mehmet bridges, along with multiple highways, are slated for 30-year operating concessions. A formal decree signed by President Recep Tayyip Erdogan was released on Saturday. The bridges are currently run by a state authority.
These spans are not just postcard material. Each day, hundreds of thousands of vehicles use them, and they link Istanbul's European and Asian sides over the Bosporus Strait. That strait is a vital maritime corridor linking the Black Sea to the Mediterranean, and the bridges stand out as landmarks on the city's skyline.
The process produced a $5.7 billion top offer, which Erdogan, serving as prime minister at the time, dismissed as insufficient. Bloomberg first reported that the push to revive the effort surfaced last year.
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Privatization moves like this often aim to raise cash and lock in long-term operating arrangements. The scale, the mix of highways included, and how the 30-year rights are structured will shape expectations for infrastructure revenues tied to Turkey. If you follow transport and public-works assets, this is one to watch for how the terms might ripple into valuations and funding costs.
