French infrastructure investment group Meridiam is reportedly preparing another major regional move as it strengthens its involvement in large energy and transport projects, including the Great Sea Interconnector linking Greece and Cyprus.
The company plans to bid for the operating rights to two of Istanbul’s most prominent Bosphorus bridges as part of a proposed privatisation process in Turkey, according to a Türkiye Today report citing Bloomberg.
Partnership with Turkish group Makyol
Meridiam is reportedly seeking to establish a consortium with Turkish construction company Makyol to participate in the tender. Other major Turkish contractors are also understood to be exploring partnerships with international investors ahead of the process.
Founded in Paris in 2005, Meridiam specialises in the long-term development, financing and operation of public infrastructure. By the end of 2025, it managed approximately €24 billion in assets connected to more than 130 projects worldwide.
Its major investments include the Port of Miami Tunnel in the United States, the Long Beach Courthouse in California, Germany’s A5 motorway and Finland’s E18 motorway.
The French group already has a presence in Turkey, having participated in four major hospital infrastructure projects, including healthcare complexes in Adana and Gaziantep. These were developed in partnership with Rönesans Holding under a public-private partnership model.
Makyol is one of Turkey’s leading infrastructure groups, with experience in both construction and concession-based operations. Through Otoyol AŞ, it has a stake in the company operating the Gebze–Orhangazi–İzmir motorway and the Osmangazi Bridge.
Two bridges and nine motorways included
The proposed privatisation is expected to cover the operating rights for the 15 July Martyrs Bridge, Istanbul’s first Bosphorus bridge, which opened in 1973, and the Fatih Sultan Mehmet Bridge, which entered service in 1988.
Nine state-owned toll motorways are also included in the plan.
The tender is expected to be divided into four separate packages, while international consultancy Ernst & Young has been appointed to support and oversee the privatisation process.
The infrastructure involved attracts substantial traffic. The Fatih Sultan Mehmet Bridge, part of the Trans-European road network and a major freight corridor between Europe and Asia, handled an average of approximately 239,000 vehicles a day in 2025.
The 15 July Martyrs Bridge, which primarily serves traffic between Istanbul’s European and Asian sides, recorded around 185,000 vehicle crossings daily.
State-owned toll motorways and associated infrastructure recorded approximately 585.9 million vehicle crossings in 2025, generating almost 1.9 billion Turkish lira, equivalent to around $43.2 million.
Earlier privatisation attempt was cancelled
Turkey previously attempted to privatise the operating rights for the Bosphorus bridges and approximately 1,975 kilometres of motorways.
In 2012, a consortium involving Turkey’s Koç Holding, Malaysia’s UEM Group and Gözde Girişim won the tender with a bid of $5.7 billion.
The process was ultimately cancelled after then-prime minister Recep Tayyip Erdoğan said offers below $7 billion would not be accepted.
The renewed privatisation effort comes as Turkey seeks to generate substantial revenue through the use of state-owned assets. Under the country’s Medium-Term Programme, the government aims to raise approximately 185 billion Turkish lira from privatisations in 2026.
