South Korea-led consortium wins $3bn deal to build Turkey's bridge
The deal, said to be worth some $3 billion, was signed in Ankara on Thursday, according to officials from the Ministry of Land, Infrastructure and Transport.
The signing ceremony was also attended by South Korean Minister Kang Ho-in and his Turkish counterpart Ahmet Arslan, they said.
Under the deal, the South Korean builder and its partners will build a 3.7-kilometer suspension bridge, known as the Canakkale 1915 Bridge, in Canakkale, a seaport located in the northwestern end of Turkey.
The SK E&C-led consortium was named the sole preferred bidder in late January. The consortium consists of four companies, including South Korean builder Daelim and Turkey's Yapi Merkezi Construction and Industry.
Arslan was quoted as saying the new bridge will not only improve the convenience of people in Canakkale but also boost the local economy.
Kang expressed hope the project will further improve the countries' ties.
"South Korean companies will share their development experience with Turkey," he said at the ceremony, according to ministry officials