Turkey signs USD1.3B financing agreement for fresh railway line with UK

(MENAFN) Turkey and the United Kingdom have inked a USD1.3 billion financing agreement for the development of a new high-speed electric railway line in central Turkey, connecting the city of Kayseri to the small town of Yerkoy.

In a meeting held at the British Consulate General in Istanbul on Friday, UK Trade Minister Kemi Badenoch praised the agreement as "a huge testament to our trading relationship" between both nations.

Badenoch noted that this marks the third occasion on which the UK has collaborated with Turkey to ensure the future of a sustainable large-scale transport project.

“I’m absolutely delighted that we are seeing yet another huge deal between the UK and Türkiye with €1.2 billion (USD1.3 billion) of finance for what we believe is going to be a transformative railway between Yerkoy and Kayseri,” she stated.

Badenoch mentioned that the new railway line would contribute to Turkey's expansion of its low-carbon railway network, stating: “It will reduce congestion and it's going to cut net carbon emissions on the Yerkoy-Kayseri route by over 6,500 tons of CO2 per year.”

Badenoch shared that the project will be executed through a joint venture involving Turkish firms Dogus Construction, Celikler, and Ozkar. These same companies served as the primary contractors for the Ankara-Sivas High-Speed Railroad.

She further mentioned that Turkey “presents huge opportunities for UK businesses,” with its big economy as well as strategic site.



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