Samsung C&T Corporation has formed a consortium of Korean investors to manage the investment, construction, and operation of a major highway project in Turkiye’s capital to enhance the city’s connectivity, travel efficiency, and road safety with Turkish company Rönesans Holding.

Samsung C&T Engineering and Construction Group has announced that it will participate in the investment, construction, and operation of a new highway in Türkiye. With this project, the group plans to expand its positioning as a leading global developer in the construction industry.

Samsung C&T has formed a Korean consortium of investors for the project, including Korea Overseas Infrastructure and Urban Development Corporation (KIND), Korea Expressway Corporation, and PIS Fund, an investment trust set up by the Korean Government.

Together, this consortium will form a concessionaire with Türkiye’s Rönesans Holding to develop, construct, and operate the Nakkaş-Başakşehir section of the Northern Marmara Motorway.

The Nakkas-Basaksehir Highway Project

The project is the eighth section of the Northern Marmara Highway, which will connect the city center south of Istanbul New Airport in Turkkiye to the European region. It will include 31.3 kilometers of highway spanning six to eight lanes and a 1.6-kilometer cable-stayed bridge.

The project is scheduled for completion in 2027 and is a public private partnership (PPP) that will be privately operated for a period of time before being handed over to the Türkiye government. The Turkish government will grant the concessionaire the right to operate the project for 15.5 years after completion while guaranteeing minimum traffic volumes and tolls.

Samsung C&T will carry out the procurement of the highway construction based on its extensive capabilities, technology, and experience with global projects and will also participate in the post-construction operation with Korea Expressway Corporation. The total project cost is approximately USD $1.6 billion, with toll revenues of more than $4.4 billion expected over the 15-year operation period. Samsung C&T is expected to receive additional operating revenues in addition to the $260 billion KRW in construction orders.

Expanding Samsung C&T’s Global Development Business

Samsung C&T has built strong partnerships with local Turkish companies, allowing it to participate in this critical infrastructure project, which is a major part of Türkiye’s metropolitan transport expansion plan.

The company aims to move beyond traditional construction projects and participate in investment and development opportunities ranging from equity investment and operation in the global infrastructure market, further strengthening its position as a global developer. Samsung C&T plans to seize opportunities in Turkey’s expanding infrastructure market and explore markets in Europe and the Middle East.

A map of Turkiye’s Northern Marmara Motorway (Map sourced from Google Maps)