Turkish taxpayers will fork out 323 million ($60 million) over the next three years to subsidise a $1.2 billion tunnel under the Bosporus that has been underused, according to the international edition of Haber Sol.
Traffic through the tunnel is below levels agreed in a build-operate-transfer (BOT) contract signed between the Turkish Treasury and the contracting firm, the left-wing opposition website said , citing Başar Arıoğlu, chairman of Eurasia Tunnel Operation Construction and Investment Co. (ATAS).
Some 17.5 million vehicles passed through the tunnel last year, less than the guaranteed 25.6 million. Therefore, the Treasury must pay for cars that did not pass, Haber Sol said.
Turkey’s Ministry of Transport and Infrastructure said a total of 124 million liras was paid out for 2018. Payments of some 167 million liras are earmarked for this year, 129 million liras for 2020 and 27 million liras for 2021, it said.
Other big transport projects sanctioned by the ruling Justice and Development Party (AKP) have also failed to meet traffic targets, meaning taxpayers face paying similar losses, Haber Sol said.
ATAS is a partnership between Turkish construction company Yapı Merkezi and South Korea’s SK E&C.
Last year, Turkey’s main opposition Republican People’s Party (CHP) outlined details of alleged financial misconduct in the construction of the new Istanbul Airport, which partially opened in October. The facility, covering an area larger than Manhattan, is also being built under a BOT contract by businessmen with close ties to the AKP.
