Turkey’s ambitious £20 billion Istanbul Canal project aims to reshape global shipping and solidify its position as a key player in maritime trade.
Dubbed the “mini Suez,” the artificial waterway will connect the Black Sea to the Sea of Marmara, providing an alternative to the natural Bosphorus Strait.
This transformative endeavor is expected to alleviate congestion in one of the world’s busiest waterways and establish a new hub for international commerce.
The Istanbul Canal spans approximately 28 miles through the city’s European side, running parallel to the Bosphorus.
The project was first proposed over a decade ago by Turkish President Recep Tayyip Erdogan, and construction began in 2021 despite criticism from environmentalists and urban planners.
When completed, the canal is expected to accommodate up to 160 ships per day, reducing the burden on the Bosphorus, which currently sees traffic exceeding 40,000 vessels annually.
This overuse has led to environmental concerns, logistical challenges, and risks of maritime accidents in the narrow waterway winding through Istanbul’s historic heart.
The new canal aims to address these issues while creating a high-tech shipping corridor that could rival global trade routes like the Panama and Suez Canals.
Supporters of the Istanbul Canal argue that the project will bolster Turkey’s economy. The canal’s operation will allow Turkey to charge transit fees, which the 1936 Montreux Convention currently restricts for the Bosphorus.
This could create a significant revenue stream for the country, contributing to its long-term economic growth.
Additionally, the project includes plans for new ports, logistics hubs, and residential developments along its banks, transforming the surrounding area into a bustling economic zone.
Experts estimate that these developments could generate thousands of jobs and attract billions in foreign investment.
Despite its potential benefits, the canal has faced fierce opposition. Environmentalists warn that altering the natural water flow between the Black Sea and the Sea of Marmara could disrupt marine ecosystems and worsen pollution.
Critics also highlight the risk of increased salinity in the Black Sea, which could devastate regional fisheries.
Urban planners and residents have expressed concerns about the displacement of communities along the canal’s route and the impact of construction on Istanbul’s already strained infrastructure.
Additionally, the canal’s £20 billion price tag has raised questions about the prioritization of such a costly project amid Turkey’s ongoing economic challenges.
Reference :
Reference link
