Turkey Awards Bridge Construction Project to Korean Builders

Category: Business


Unlocking Word Meanings

Read the following words/expressions found in today’s article.

  1. consortium / kənˈsɔr ʃi əm / (n) – a group of individuals or institutions that have united to achieve a common goal

    Major cellular companies created a consortium to provide better services.

  2. span / spæn / (v) – to extend something over something else

    The bridge spans the two-kilometer jungle

  3. bidding / ˈbɪd ɪŋ / (n) – an event where participants give their proposals in order to win an object or a project

    They lost in the bidding because their proposal was submitted late.

  4. down payment / daʊnˈpeɪ mənt / (n) – a first partial payment given for a product or service bought

    She paid a $150 down payment and will give the remaining $50 next month.

  5. archeological / ˌɑr ki əˈlɒdʒ ɪ kəl / (adj) – describing something related to people’s culture in the past

    They made great archeological discoveries during their visit to Turkey.


Read the text below.

Turkey recently awarded the Canakkale [chah-nah-kah-LAY] bridge construction project to a consortium led by South Korean companies.

A consortium composed of two South Korean companies and two Turkish companies won the 2.72 billion-dollar construction project to build the Canakkale 1915 bridge. It is named after Turkey’s victorious 1915 battle, the Canakkale.

The Canakkale 1915 will be a suspension bridge, which is designed to hang over a body of water.  It will span 3.7 kilometers across Turkey’s Dardanelles Strait /ˌdɑr dnˈɛlz streɪt /  and will become the world’s longest suspension bridge upon completion.

Twenty-four companies across the globe showed interest in the project bidding and were evaluated based on the shortest proposed timeframe. The South Korea-Turkey consortium won the bid at 16 years and two months, which includes the 5-year construction period and approximately 11 years for bridge maintenance.

Reports say that the consortium was able to shorten its timeline by proposing to begin construction even without a down payment. This business move may cause financial losses for the consortium if the project were to be disrupted. However, the consortium took the risk, which eventually led to greater gains.

While some critics view Turkey’s multi-billion construction project as outrageous and harmful to the environment, the government sees it as an investment. The Canakkale bridge will connect several districts in Turkey, which will contribute to the country’s economic growth. The government also said that important archeological sites will not be affected by the said project.

The Canakkale 1915 bridge is scheduled to be completed in 2023. In the meantime, the Dardanelles Strait can only be crossed using ferryboats.

Viewpoint Discussion

Enjoy a discussion with your tutor.

Discussion A

• The consortium shortened the project’s timeline by using its own funds. Do you agree with this business move? Why or why not?
• Aside from the timeline, what other criteria do you think were considered during the bidding?

Discussion B

• What are the risks of multicultural projects?
• How can these risks be prevented?