Korea Expressway Corporation has secured a nearly 200 billion won ($186 million) contract for road operation and maintenance in Turkey.
On June 3, local time, the corporation announced that it signed a main contract for the operation and maintenance of the Kınalı-Malkara Highway and major repairs for the Malkara-Çanakkale section in Istanbul. This contract represents the largest amount awarded to Korea Expressway Corporation for road operation and maintenance projects abroad.
The Kınalı-Malkara Highway is part of a route connecting Istanbul and Çanakkale. The project, which is a public-private partnership, has a total budget of 2.6 trillion won and will be constructed as a 106-kilometer, six-lane highway.
During the construction period, Korea Expressway Corporation will provide pre-operation consulting. After the highway opens in 2029, it will work with local company Limak to manage operations and maintenance for ten years. The contract value for this part is 135 billion won. Additionally, the company will undertake major repairs for the Malkara-Çanakkale section, valued at 51 billion won.
This section connects the existing Malkara-Çanakkale Highway with the 1915 Çanakkale Bridge towards Istanbul. Once completed, it is expected to enhance connectivity in Turkey's western transportation network and meet the growing demand for industrial, logistics, and tourism travel. The Kınalı-Malkara Highway project is reported to have commenced construction in March 2025.
The contract was also influenced by public financial support from the Korea Export-Import Bank and the Korea Trade Insurance Corporation. The Export-Import Bank led the financing from the project's inception, while the Trade Insurance Corporation's involvement helped expand the contract size.
With this contract, Korea Expressway Corporation's cumulative contract amount in Turkey has reached approximately 350 billion won. This marks the second operation and maintenance project secured in Turkey, following the Nakasu-Basaksehir Highway project in 2024. This contract appears to be the largest ever awarded to Korea Expressway Corporation for overseas operation and maintenance projects.
Lee Sang-jae, acting president of Korea Expressway Corporation, stated, "This contract is an example of how infrastructure public enterprises and public financial institutions can achieve results in overseas markets. We aim to participate in large projects in Asia and Europe, targeting 1,000 kilometers of overseas road operation and maintenance contracts by 2030."
* This article has been translated by AI.
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