Eurasia Tunnel added 8.1 billion liras to economy: Transportation minister
Around 79 million vehicles passed through the Eurasia (Avrasya) Tunnel, the first ever road tunnel connecting Europe and Asia underneath the Bosphorus Strait in Istanbul, said Transportation and Infrastructure Minister Adil Karaismailoğlu on Feb. 15.
The tunnel, which is the deepest double-road tunnel in the world, opened on Dec. 20, 2016. Linking Kazlıçeşme on Istanbul’s European side and Göztepe in Asia, it aims to reduce chronic traffic congestion in Turkey’s most populous city.
“Its total contribution to the country’s economy in the last five years has reached 8.1 billion Turkish Liras [$595.2 million],” said the Karaismailoğlu.
“According to analysis based on traffic data, the tunnel helps drivers save an hour and makes contributions with factors such as less fuel cost, emission reduction and accident cost,” he added.
The tunnel, which cost $1.25 billion, is due to be operated by ATAŞ for 21 more years. The project was carried out under a build-operate-transfer (BOT).
The state guarantee had foreseen that 25.6 million vehicles would use the tunnel per year.