Local Turkey

Turkey invests over $401B in transport, communication

Transport minister says figure amounts to investments in past 19 years

Turkey invested almost 1 trillion Turkish liras ($401.6 billion) in its transport and communication infrastructure in the last 19 years, the nation’s transport and infrastructure minister said on Friday.

Speaking before the groundbreaking ceremony of the Mersin International Port’s expansion project, Adil Karaismailoglu said the port is vital for Turkey because of its geographical location, capacity, adjacent to the free trade zone and transit and hinterland connections.

The project will increase Turkey’s trade volume with Eastern Mediterranean basin countries and all countries in the region, he said.

The capacity of a port in Turkey’s southern Mersin province will be expanded from 2.8 million to 3.6 million twenty-foot equivalent units (TEU), according to the minister.

“At the end of 2022, with the completion of the port’s expansion project, which is expected to be completed in 1.5 years, there will be additional employment for 500 people and 5,000 people will be employed indirectly,” and will make a crucial contribution to the export and logistics of the region, he added.

During the last 19 years, between 2002 to 2021, the average dollar-lira exchange rate was 2.88.

Source
AA

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