Tender for new Istanbul airport to be held in may

Countdown starts for the construction of a new airport in Istanbul, projected to be the largest in the world with an annual capacity of 150 million passengers. Speaking on the issue, Transportation Minister Binali Yildirim said the tender would be held on May 3 and the winner would be announced on the same day. The project will be based on a build and operate contract. The airport to be constructed on the European side between regions of Yenikoy and Akpinar on the Black Sea Coast is expected to become operational in 42 months following the tender. "The operation period will be 25 years. The bidders will compete on the basis of the amount of rent they will pay to the State Airports Authority (DHMI)," Yildirim said. It is projected that the total cost will surpass 7 billion euros, excluding financing. Yildirim added that the total passenger traffic in Istanbul sums up to 60 million, 45 million at Ataturk Airport and 15 million at Sabiha Gokcen Airport. The contract guarantees the operator with 342 million passengers for 12 years. The project will be finished in four phases. The first phase of the investment will create 80 thousand jobs annually during the construction period, and once the airport starts operating, the average employment will climb to 120,000.