Astaldi obtains a 2,3 billion dollar loan from a pool of Turkish banks to build and manage the third bridge over the Bosphorus Strait. The company communicates it, specifying that "the financial close has allowed the disbursement of a first tranche of the loan to service the regular progress of the bridge construction works, which is currently 25% complete".
In the wake of this news, Astald's stock was listed on the Stock Exchange at the end of the morningi earn 3%, a 7,865 euro.
The total value of the work amounts to approximately 2,9 billion dollars (33% Astaldi 67% IC Ictas), financed on a project finance basis with a debt/equity ratio of 80/20. The duration of the concession is over 10 years, of which 30 months for construction activities and the rest for management.
Astaldi explains that the work will be carried out with the BOT (build, operate, transfer) formula and involves the construction of a 1,4-kilometre free span bridge for crossing the Bosphorus strait by motorway and railway, as well as construction of a section of the North Marmara Highway along the Odayeri-Pasaky route.
Commissioned by the Turkish Ministry of Transport, the work will be carried out in joint venture with the Turkish company IC Ictas, a partnership already operational in the projects underway in St. Petersburg in Russia (Pulkovo International Airport and Western High Speed Diameter).
