Turkey is seeking a €350 million investment from the European Investment Bank to help fund €3.75 billion Bosphorus rail tunnel project.
The project comprises a rail tunnel crossing underneath the Bosphorus Strait to link the existing commuter lines on the European and Asian side of Istanbul. The EUR 3.75 billion project also includes the upgrading of the existing rail lines and the procurement of new rolling stock, the EIB said in a statement.
Once completed, the infrastructure investment will constitue the first seamless mass transit system in Istanbul to cross the Bosphorus and link the two sides of the city along 76 kilometers of its southern shores. It will also enable high-speed intercity trains to cross the Bosphorus and reach the heart of the city.