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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.