Infrastructure focus: Rönesans Holding's Istanbul M-way
Rönesans Holding, a leading Turkish construction and investment company, has announced the financial closing for the Nakkaş-Başakşehir section of the €1.43 billion Northern Marmara Motorway Project near Istanbul, Türkiye.
The Nakkaş-Başakşehir section is a critical component of Istanbul's east-west connectivity strategy. It will bypass the city's congested road network to the north, providing an additional dual carriageway between Asia and Europe.
The new motorway will enhance access to Istanbul's new airport via a toll road, linking the western and northern districts of the city. The project aims to reduce travel times, lower transportation costs, and improve road safety.
The 31.3km toll road includes a 1.6km cable-stayed bridge, multiple overpasses and underpasses. Advanced tolling systems and sustainable construction techniques are key components of the project.
Erman Ilıcak, President of Rönesans Holding, says: "We're proud to be setting a new standard for transportation in Türkiye with the Nakkaş-Başakşehir Project. Not only will the motorway drastically cut travel times for individuals and businesses in Istanbul, it will also take the country's sustainable development to the next level."
Rönesans and Samsung C&T lead consortium
The project is being developed under a Build-Operate-Transfer (BOT) model, led by Rönesans Holding. The consortium includes international partners such as Samsung C&T Corporation, Korea Overseas Infrastructure & Urban Development Corporation (KIND), and Korea Expressway Corporation.
Se Chul Oh, President and CEO of Samsung C&T, adds: "This project is expected to enhance economic cooperation between the two countries. We will keep this momentum going to create additional cooperative opportunities in Türkiye, CIS and Eastern European markets."
The project is fully financed by international institutions, including the European Bank for Reconstruction and Development (EBRD), the Asian Infrastructure Investment Bank (AIIB), and the Islamic Development Bank - Islamic Corporation for the Development of the Private Sector (IsDB - ICD).
European export credit agencies Atradius and SERV, along with the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and a consortium of commercial lenders, are also providing financing.
Sustainability at heart of Nakkaş-Başakşehir design
Sustainability is a key focus of the Nakkaş-Başakşehir project. A 2MW Solar Energy Generating System will be installed to power the motorway's operations and management centre and service stations.
The replacement of over 4,500 sodium lights with LEDs is expected to reduce energy consumption by 37.5% during the project lifetime.
All operations and maintenance vehicles will be hybrid or electric, estimated to save around 112,000 litres of fuel consumption annually.
The project aims to save 7.9 million tonnes of greenhouse gas emissions over 30 years. It will also reduce particulate matter emissions by 1,399 tonnes, nitrogen oxides by 58,699 tonnes, and sulphur dioxide by 95 tonnes.
Ilıcak concludes: "This is a motorway of the future, built with people, society and the environment in mind – elements we hope to see replicated across global infrastructure projects moving forwards."
About Rönesans Holding
Rönesans Holding is headquartered in Ankara, and is the 53rd largest international contracting company globally. The company operates in 30 countries across Europe, Central Asia, and Africa, with subsidiaries including Ballast Nedam in the Netherlands and Heitkamp Industrial Solutions GmbH in Germany.
To date, Rönesans and its partners have invested more than €8 billion into projects in Türkiye and globally. The company has been a signatory of the UN Global Compact since 2015 and the UN Women's Empowerment Principles since 2016.
