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Istanbul to invest EUR 725 million in developing its railway network in 2015

Istanbul Metropolitan Municipality budget for 2015 was set at TRY 12.25 billion (EUR 4.40 billion). TRY 1.19 billion (EUR 427 million) will be allocated to the development of the railway network on Istanbul’s Asian side, while an amount of  TRY 832 million (EUR 298  million) goes to railway projects on the European side.

TRY 732 million will be invested next year in Üsküdar-Çekmeköy metro development, and TRY 212 million for Kartal-Kaynarca metro, on the Asian side Mecidiyeköy-Mahmutbey metro (European side) the has been allocated an amount of TRY 400 million. 

“With the budgets of the Istanbul Water and Sewerage Administration (İSKİ) and the Istanbul Electric Tramway and Tunnel Establishment (İETT), our total budget increases to TRY 19.71 billion, and when the turnover of other administrations is added, the budget for Istanbul increases to TRY 31.8 billion,” stated Istanbul Metropolitan Municipality Mayor Kadir Topbaş.

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