About 45-50 thousand ships pass through the Bosphorus today, where approximately 3-4 thousand ships pass a year 100 years ago. Traffic is increasing day by day in the strait, which citizens in Istanbul use to move to the other side. The possibility of accidents in the strait, which is frequently used by cargo ships, continues to increase day by day. It is planned to build the Istanbul Canal Project in order to prevent possible accidents and reduce traffic. With an alternative corridor to be built in the project, it is aimed to reduce ship traffic and prevent possible accidents.
In addition to preventing the ship traffic or accidents that occur, the Istanbul Canal Project aims to make the transportation of the loads that make up the industrial raw material less costly. The expansion of the sea route, which costs much less than the railway, road, and airway, through the Istanbul Canal Project, is expected to make an average annual profit of $8 billion. The project, which costs a total of $40 million, is among the benefits of paying itself within 5 years and earning the country a profit. ( Importance of Istanbul Canal Project )
After The Project is Over
When the Istanbul Canal Project is completed, it will be used as a new international waterway. In this way, the regional cards will be distributed in favor of Turkey. The Istanbul Canal Project, which is expected to house approximately 150-160 ships a day, will serve four times the size of ship traffic compared to the Panama Canal. With this project, which is expected to make about $8 billion a year, Turkey’s revenues will be increased.
The Istanbul Canal Project, which is expected to host 160 ships a day, will also provide jobs for 1.5 million people. Investments are also expected to increase significantly after the completion of the project, thanks to this channel, which will attract the gulf capital in the region. Thanks to the envision of the arrival of 50 million foreign visitors annually in Istanbul, tourism revenue of 20-30 billion dollars per year is also expected to be achieved. ( Advantages of the Suez Canal )