Investing in Turkey, Why Canal Istanbul is a Mega Project?

Canal Istanbul is a Mega Project was first suggested by President Recep Tayyip Erdoğan in April 2011. The beginnings of the Canal Istanbul is a Mega Project may be traced back to the 16th century. At that point, the Ottoman empire was interested in building it, which The President referred to as “a Dream Come True” in his address.

Although an alternate sea route was once necessary for the shipping of timbers under the Ottoman Empire, this Canal Istanbul project developments aim to achieve significant changes in Economic Growth and strengthen Turkey’s strategic position in the world.

Canal Istanbul is a Mega Project is grandiose not just in terms of its goals but also in terms of the location chosen, the construction financing strategy, and the fact that it challenges international maritime regulations.

Since the facts of the Canal Istanbul Project are based on Prime Minister Erdogan’s election campaign address, examine the Canal’s likely characteristics in relation to Istanbul’s current condition and assets.

What are the Main Elements of Canal Istanbul?

The Canal was created to meet a very fundamental need. Here are the main elements of the Canal Istanbul is a Mega Project progress:

1. Components of transportation:

• Between the Sea of Marmara and the Black Sea in Istanbul’s European part 1, a 50-KM-long marine transportation canal with dimensions of 150 meters wide and 25 meters deep will be constructed. According to available data, boats of up to 300.000 DWT would be able to travel through the Canal Istanbul implications, which is about 10% bigger than the maximum permitted in existing Canals such as the Suez.
• With a capacity of 60 million passengers per year, the biggest airport in Turkey will be built by filling disused quarries in Northern European Istanbul with debris from the Canal project.

       2. Elements as a Port:

• Highway bridges over the Canal, including connecting and approach roads to the upcoming third Bosphorus Bridge.
• The Canal is crossed by railway bridges, Functions of the City
• Areas of residence 2, the United States Congress and convention centers.
• Cultural resources.

      3.Tourist attractions:

• Commercial districts, Recreational Function
• Recreation spaces.
• Some existing lakes generated by rainwater filling up disused quarries will be preserved.
• Newly established Canal Istanbul real estate along the path.

President Recep Tayyip Erdoğan has made a clear connection between the Istanbul Canal progress and the year 2023, which marks the centennial of the Republic of Turkey’s founding.

It is an ambitious goal to create a country with a 25.000 USD annual GDP per capita and to achieve a country with a 15.000 USD annual GDP per capita, which are connected. A total of 1,000 km of double-deck roads (not motorways) will be constructed in order to improve the speed of train connections and increase the number of local visitors from 2 million to 20 million per year.

Also, set high goals for the number of foreign visitors, which is now about 20 million per year, as well as the number of domestic tourists. Furthermore, he said that 500.000 new houses would be built by 2023 in this address (most likely in Istanbul). As a consequence, it should come as no surprise that the planned Project is also very ambitious. According to him, Turkey deserved to approach the year 2023 with such a fantastic, wild, and amazing concept, and that we had already made the first step in that direction by announcing it.

       4.Cost Factor:

The marketing of the Canal Istanbul displays that there have been many disputes over the Project among professionals and members of the general public as a result of it. One group of individuals thinks that this is a crazy initiative that would create significant changes in Turkey via rapid development, while another group believes that this is a stupid project that will overrun the city and destroy the natural resources of Istanbul, according to the Canal Istanbul project details.
Canal Istanbul cost around US$10 billion to be built. However, efforts and pressure from the Turkish government in favor of increased transit costs across the straits. This will even enhance the Canal Istanbul cost.

       5.Importance of the Project:

In reality, the Turkish goal is to enjoy the Canal Istanbul geopolitical importance. They will do it by having sole control over this important geopolitical line implies that Ankara increases its geopolitical power in relation to the international community, thus increasing its geopolitical leverage in the region.

      6.Purpose of Building Canal:

The declared goal of the Project is to decrease the enormous amount of maritime traffic that passes through the Bosphorus while also minimizing the hazards and dangers connected with it, especially with tankers, according to the Canal Istanbul project details, shown on the project website. Yet, the Project, according to the findings of the analysis, will provide a number of difficulties in addition to its advantages.

An estimated 41.000 boats of all kinds travel through the Istanbul Strait every year, including about 8.000 oil tankers transporting a total of 145 million tons of crude oil, according to government statistics. A rise in the volume of maritime traffic passing through the Turkish straits is being pushed for by governments across the globe, which is putting the safety of marine navigation in the straits at risk throughout the transit.

        7.Benefits of Having Istanbul Canal 2021:

It is estimated that the Istanbul Canal receives almost three times the amount of trade that is currently the Suez Canal does, which is one of the best Istanbul Canal advantages.

            Canal Comparison                            Panama Canal                     Istanbul                     Canal Suez Canal

            Width                                                         62.5 m                                         275 m                                    205 m

            Length                                                       80 km                                           45 km                                  193 km

            Beam max                                                51.2 m                                           77.5 m                                51.2 m

One of the most significant benefits of this grand Turkish Project Canal will be the decrease of pollution produced by cargo ships. These ships will travel through or anchor in the Sea of Marmara before entering the Bosphorus on the southern bank, which will be one of the most significant advantages of the Istanbul Canal.

The acquisition of a new maritime Istanbul Canal route, as well as the construction of a barrier against land-based military aggression and illegal commerce, are the primary advantages of this Project. Yet this has some disadvantages too.

The primary downsides are the resources required for defense and security in the area. Defense and protection of Canal Istanbul will be impacted by the military Istanbul Canal disadvantages and benefits at the same time and in the same manner, and they will work together to enhance the organization and optimization of strait defense and protection. It is the government’s duty to reduce the negative effects of the Istanbul Canal on the local community.

          8.The layout of the Project:

The route of the Canal Istanbul Megaproject was formally declared on January 15, 2018, and the Project’s design was unveiled the following day. It was only after extensive research was conducted on five other potential routes that the ultimate path for the Istanbul Canal was chosen.

The Canal will pass via Lake Küçükçekmece, which is located close to the Marmara Sea, as mentioned in the Canal Istanbul project details. The Canal will also pass through the city of Istanbul. The train will go via Avcilar and Başakşehir before arriving in the Arnavutköy neighborhood, which is located north of the city center. Once it reaches the Black Sea, it will continue on to Istanbul.

Before reaching Istanbul, the Istanbul Canal route travels seven KMs via Küçükçekmece, 3.1 KMs in Avcilar, and 6.5 KM through Başakşehir. According to the Canal Istanbul map, another important thing to notice is that the main 28.6 KM section of the route passes through Arnavutköy, for a total distance of 28.6 KM.

In April 2009, the study began for the purpose of estimating the feasibility of this Turkish Mega-Project, which was concluded in April 2012. The Istanbul Canal 2021 project began in June of that year and will be completed in 2023.

The Canal Istanbul news shows that according to current plans, it will be finished and put into service in 2023. In addition to providing additional waterways and economic possibilities, the Canal may also represent a threat to national security. A broad range of subjects will be covered, including defense, general security and order, politics, and the environment, among other things.

References:

1. https://www.academia.edu/38930892/The_Crazy_Project_Canal_Istanbul
2. https://www.abh-ace.be/sites/default/files/News/kanal_istanbul.pdf
3. https://www.scmp.com/news/world/europe/article/2149025/how-istanbuls-man-made-canal-project-could-trigger-arms-race-black
4. https://www.portseurope.com/canal-istanbul-the-largest-construction-project-in-the-world-for-a-decade/