Project Management Institute

No Time to Slow Down

Turkey's Turmoil Doesn't Slow Ambition

img
img

Renderings of Istanbul’s new airport terminal and control tower, below

Deadly terrorist attacks, a failed coup and a plunge in tourism revenue haven’t slowed Turkey’s ambitious megaproject plans. In fact, the bad news may be fueling the projects.

“Particularly after the [2016] coup attempt, the megaprojects have become a symbol of national resilience,” author Mustafa Akyol told The Christian Science Monitor.

Turkey’s megaprojects include a US$24 billion airport in Istanbul, a US$7.5 billion highway from Istanbul to Izmir and a mosque that can hold more than 37,000 people. They are all under construction.

But some wonder where the money for these projects will come from. “There are a lot of question marks about these schemes,” Atilla Yeşilada, an analyst for GlobalSource Partners in Turkey, told the Monitor. “They are essentially [President Recep Tayyip Erdogan’s] ego projects.”

Foreign investors could be scared away by continued violence and heavy borrowing. “There comes a point when the international community won’t lend to you,” Mr. Yeşilada told Reuters news agency.

Nevertheless, President Erdogan is planning another massive initiative: a 45-kilometer (28-mile) canal and megacity estimated to cost US$20 billion. Canal Istanbul would connect the Black and Marmara seas, allowing the country to relieve shipping traffic in the heavily traveled Bosphorus. Some critics call the project unrealistic, and the bid schedule has already been pushed back several times. —Karina Corona

This material has been reproduced with the permission of the copyright owner. Unauthorized reproduction of this material is strictly prohibited. For permission to reproduce this material, please contact PMI.

Advertisement

Advertisement

Related Content

  • Sponsored Research

    Dynamics of New Business Creation

    By Kock, Alexander | Gemünden, Hans Georg | Kaufmann, Carsten The aim of this research project was to explore how innovative firms create new growth paths, and how project management practices can contribute. In addressing this question, we wanted to use a new…

  • Why Great Ideas Fail and How to Make Sure They Don't

    By Vargas, Ricardo Viana | Conforto, Edivandro Carlos | Oumarou, Tahirou Assane To reduce failure rates and successfully deliver strategies in 2020 and beyond, organizations must overcome disruptive forces and flip posing challenges to opportunities and advantages. It all…

  • Pulse of the Profession

    Tomorrow's Teams Today

    By PMI PMI research reveals that it’s the organizations with creative, collaborative and agile teams that will thrive in The Project Economy.

  • PM Network

    All Access

    By Fister Gale, Sarah No more limits. That's the battle cry on everything from construction sites to next-gen digital design as teams look for ways to ensure projects accommodate people with disabilities related to…

  • PM Network

    Disruption Done Right

    By Mustafa, Abid The digital revolution can't be stopped—but it can stop organizations. According to a 2019 global survey by Couchbase, 81 percent of enterprises had a digital transformation project fail, suffer…

Advertisement