Tender for monorail system in central Istanbul canceled

ISTANBUL

A tender for a transportation project which includes a monorail system between the Sefaköy and Halkalı districts on Istanbul’s European side was canceled due to authorities’ need to revise the project, the company which won the tender announced late on July 26. 

Alsim Alarko, owned by Alarko Holding, won the tender for the construction, electro-magnetic and other works of the project by offering the lowest price at 1.29 billion Turkish Liras (nearly $365 million, according to July 27 rates). 

“The employing authority notified us that the tender was canceled due to a need to revise the project in a written notice on July 26,” the company said in a stock exchange filing to the Public Disclosure Platform (KAP). 

The Istanbul Metropolitan Municipality council approved the project in 2015 in an attempt to improve the city’s traffic congestion problem, despite objections from the opposition due to concerns over the monorail's route and integration.