INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Turkish president Erdogan inaugurates world’s longest suspension bridge

Erdogan is also planning to build a canal in Istanbul -- an alternative to the Bosphorus. Pic Twitter
  • The bridge over the Dardanelles strait in northwestern Turkey cuts travel time between Asia and Europe to six minutes.
  • The $2.8-billion "1915 Canakkale Bridge" built by a consortium of Turkish and South Korean companies has a main span of 2.023 kilometers between its towers.

Turkish President Recep Tayyip Erdogan on Friday opened the world’s longest suspension bridge over the Dardanelles strait in northwestern Turkey — which cuts travel time between Asia and Europe to six minutes.

The 2.5-billion-euro ($2.8-billion) “1915 Canakkale Bridge” built by a consortium of Turkish and South Korean companies has a main span of 2.023 kilometers (1.257 miles) between its towers painted in the red and white colors of the Turkish flag, making it longer than the previous recordholder, the Akashi Kaikyo Bridge in Japan.

Erdogan has often boasted of mega infrastructure projects, including a third bridge over the Bosphorus, throughout his two-decade rule first as prime minister and then president.

The Turkish leader uses them as a means to drive economic growth as he eyes a re-win in presidential elections in 2023.

The inauguration coincides with the 107th anniversary of Ottoman forces’ naval victory against British and French troops in the Gallipoli campaign during World War I.

In his speech, Erdogan said the bridge would “keep alive the memory of Dardanelle martyrs.”

Erdogan is also planning to build a canal in Istanbul — an alternative to the Bosphorus.

Opponents accuse him of pursuing a vanity project that will open up Istanbul to unbridled construction and put the government into deep and largely unnecessary debt.