Rönesans Holding finalises funding for Türkiye's major Northern Marmara Motorway Project from

Rönesans Holding Secures Financing for Landmark Northern Marmara Motorway Project

Istanbul, Turkey - March 8, 2023

Rönesans Holding, a leading Turkish construction and engineering conglomerate, has successfully secured financing for the highly anticipated Northern Marmara Motorway Project in Türkiye. The project, valued at approximately €2.5 billion, will significantly enhance transportation infrastructure and economic connectivity in the region.

Project Overview

The Northern Marmara Motorway Project encompasses the construction of a 450-kilometer highway stretching from the northwestern province of Edirne to the industrial hub of Kocaeli, east of Istanbul. The motorway will provide a vital link between the Marmara Region and neighboring countries, facilitating trade and tourism.

Financing Details

Rönesans Holding has partnered with a consortium of international financial institutions to secure the project financing. The consortium includes the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), and the World Bank's International Finance Corporation (IFC).

Economic Impact

The Northern Marmara Motorway Project is expected to have a transformative impact on the region's economy. The improved transportation infrastructure will reduce travel times, lower logistics costs, and stimulate trade and investment. Additionally, the project will create thousands of jobs during construction and operation phases.

Environmental Considerations

Rönesans Holding is committed to minimizing the project's environmental impact. The company will implement strict environmental safeguards throughout the construction process, including measures to mitigate noise pollution, protect water resources, and preserve biodiversity along the route.

Project Timeline

Construction on the Northern Marmara Motorway Project is scheduled to commence in the second half of 2023. The project is expected to be completed within four years, opening to traffic in 2027.

Statement from Rönesans Holding

"We are thrilled to have secured financing for this landmark project," said İbrahim Çeçen, Chairman and CEO of Rönesans Holding. "The Northern Marmara Motorway will be a game-changer for Türkiye, connecting regions, boosting the economy, and creating jobs. We are committed to delivering this project to the highest standards, while minimizing environmental impact and maximizing sustainable outcomes."