Erdoğan’s Kanal İstanbul project postponed for three years - columnist
Turkish President Recep Tayyip Erdoğan’s ‘Crazy Project,’ a $30 billion shipping canal designed to bypass the Bosporus waterway in Istanbul, has been postponed by up to three years, pro-government Milliyet daily columnist Yaman Törüner wrote.
The claim arrives amid Turkey’s economic downturn spurred by a currency crisis which has forced the leading Justice and Development Party (AKP) government to resort to savings in the budget and raise revenues.
‘’All projects whose tenders have been made, but whose construction has not begun, will be shelved. And for projects which are ongoing, new working plans will be formed for those whose financing conditions are found viable,’’ the columnist wrote.
Construction on the Kanal İstanbul project, a 45 km channel linking the Black and Marmara seas west of Istanbul which was criticized for its potentially harmful effects on the environment and residents of İstanbul, was scheduled to begin by the end of this year.