ISTANBUL: January 08, 2016. The design and construction of the control tower for the Istanbul New Airport (INA), scheduled to open in 2018, has been won by U.S. infrastructure company ZAECOM and legendary Italian designer Pininfarina.
Just 35 kilometers from the center of Istanbul on the European side of the city near the Black Sea, INA is one of the largest infrastructure projects in the history of Turkey.
With three runways providing initial capacity of 90 million passengers per year, the airport is being built and will be operated by IGA Havalimanı İşletmesi (IGA), a consortium of five Turkish companies - Cengiz, Kolin, Limak, MAPA and Kalyon - each with a 20 percent stake.
After it is finally completed in 2028, IGA says the mega hub will have six runways and an annual capacity of more than 200 million passengers flying to 200 destinations with 150 airlines.
To help finance the cost of the airport’s first stage, estimated at €6 billion, IGA has signed a €4.5 billion, 16-year loan with six Turkish banks: Ziraat Bank, Halkbank, VakıfBank, DenizBank, Garanti Bank and Finansbank.
Commenting on the deal, İGA Board member and Limak Holding Board chairman Nihat Özdemir said: "We have an expansive goal and that is to make Istanbul and Turkey the hub of the global aviation sector.
"We are undertaking the biggest investment in the history of the [Turkish] republic without the guarantee of the Treasury. As from the date operations begin, we will be contributing an annual €886 million euros to the state budget, signifying a total of €22.15 billion at the end of 25 years,” he declared.