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[BUSINESS] · Türkiye, Iraq · 9 sources

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Turkey announces $355 billion in transport and infrastructure investments

Turkish Transport and Infrastructure Minister Abdulkadir Uraloğlu announced that Turkey has completed $355 billion in transport and infrastructure investments over the past 24 years. During a meeting in Trabzon, Uraloğlu highlighted several national achievements, including the development of a domestic electric train capable of 225 km/h, the construction of the 6A satellite, and the expansion of the national maritime fleet to one of the world's 11 largest. He also noted that all 77 provinces are now connected by divided highways.

Regarding regional projects, Uraloğlu provided details on the Development Road Project, which aims to connect the Persian Gulf to Europe via Iraq and Turkey. He confirmed that Turkey and Iraq have reached a consensus on a financing mechanism that utilizes Iraq's natural resource values to fund transport infrastructure. He also addressed a recent technical delay during the signing of five project agreements, noting that President Recep Tayyip Erdoğan intervened to prevent a diplomatic crisis, ensuring the necessary signatures were eventually secured.

In Trabzon, the Minister discussed local infrastructure, specifically the progress of the South Ring Road project, which includes 14 kilometers of tunnels, and the ongoing development of the Trabzon Rail System.

Entities

Abdulkadir Uraloğlu · Development Road Project · Iraq · Ministry of Transport and Infrastructure · Recep Tayyip Erdoğan · Trabzon · Turkey

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