Deniz Yavuzyılmaz, deputy chair of the main opposition Republican People's Party (CHP), has claimed that the government is preparing to privatize İstanbul’s Bosphorus (15 July Martyrs) and Fatih Sultan Mehmet (FSM) bridges.
The General Directorate of Highways commissioned a feasibility study for the two bridges from the Canada-based BTY Construction Cost Consultants Co, Yavuzyılmaz said in a social media post today.
The claim had previously surfaced in a Bloomberg report dated Sep 8, which stated that the government was planning to privatize the bridges along with nine highways.
In a post on social media, Yavuzyılmaz said, “We have uncovered the AKP’s new privatization plan,” claiming that the government aims to lease the bridges for a 25-year period. He argued that such a move would “mortgage Turkey’s future.”
Current revenue
Yavuzyılmaz shared his calculations based on official 2024 figures from the General Directorate of Highways. According to the data:
15 July Martyrs Bridge
Revenue: 53.93 million US dollars
Expenses: 1.76 million dollars
Annual net income: 52.17 million dollars
Fatih Sultan Mehmet Bridge
Revenue: 63.19 million dollars
Expenses: 3.41 million dollars
Annual net income: 59.77 million dollars
Combined, the two bridges generate an annual net income of approximately 111.94 million dollars. Over 25 years, this would amount to a total of 2.8 billion dollars, Yavuzyılmaz said.
Traffic already at peak
He noted that the combined annual traffic on the two bridges is already at its peak, with around 160 million vehicles crossing each year. Therefore, if the privatization tender results in a value below 2.8 billion dollars, Yavuzyılmaz argued, it would directly harm the public interest.
“This figure already reflects the net revenue the state earns while operating the bridges,” he said. If a private company were to add a profit margin on top of this, the difference would be passed onto citizens through increased tolls, he warned.
Possible toll hikes
Yavuzyılmaz compared the state-operated bridges to the privately managed Yavuz Sultan Selim Bridge, the third bridge across the Bosphorus, where the toll is currently 95 liras. He said the current fee of 59 liras for the state-run bridges could nearly double if they are privatized.
If such an increase occurs, the projected net income from the two bridges over 25 years could rise to 5.6 billion dollars, or approximately 243 billion liras at current exchange rates.
Turkey is spending billions of dollars for guaranteed payments in PPP projects
‘A betrayal’
Yavuzyılmaz criticized the planned privatization of infrastructure built with taxpayers’ money, calling it “a betrayal to the public.” He urged the government to immediately abandon the plan.
The government previously attempted to privatize the bridges in 2012, but then-Prime Minister Recep Tayyip Erdoğan rejected a 5.7 billion dollar offer, deeming it insufficient. At the time, Erdoğan had said selling the operational rights for less than 7 billion dollars would be “a betrayal of the country.”
Toll rates for highways, bridges increased by up to 80%
Previous claims
Thirteen years after that failed attempt, Bloomberg reported that the government was again preparing to privatize the Bosphorus and FSM bridges along with nine highways.
The Center for Combating Disinformation did not deny the claim, stating instead that “alternative financing methods that will ease the state’s investment burden are being explored.”
The proposed privatizations also align with the Medium-Term Program.
Currently, the Bosphorus and FSM bridges are operated by the General Directorate of Highways, with approximately 450,000 vehicles crossing the two bridges daily. (HA/VK)
