Gov't allocates $22 billion for mega projects across Turkey

The government is planning to transfer TL 65 billion ($22.73 billion) in resources for mega projects including Channel Istanbul, the Ankara-Istanbul high-speed railway, Ilısu Dam, Salt Lake Natural Gas Storage, Istanbul's third airport and the third Bosporus Bridge, along with hundreds of other projects in the sectors of health and pharmaceuticals, transportation, highways and education.

In light of the investments, Development Minister Cevdet Yılmaz said the government is focused on projects that support investments in productive sectors by prioritizing projects outlined in the action plan, along with projects centered on urban development. The public's 2016 investment program has been announced and TL 101 billion worth of public-fixed capital investments are planned by the end of the year. A 21.3 percent increase was managed compared to the previous year by transferring TL 65 billion to 3,008 projects included in the investment program.

According to data from the Development Ministry, TL 7.3 billion of the investments will be allocated to 20 public sector mega projects. The biggest share in the investment program - 30.6 percent - will go to the transportation sector, followed by education, agriculture, health and energy sectors, respectively.