Europe is building its own version of the Suez Canal as an ambitious project gains momentum in Turkey. The Istanbul Canal Initiative, spearheaded by President Recep Tayyip Erdoğan in 2021. Aims to transform the city of Istanbul into a global trading hub at an estimated cost of £20 billion. The project initially met resistance due to concerns about its impact on Istanbul’s ecosystem. However, the Turkish government continued with its 2023 and 2053 visions, emphasizing the economic. And commercial benefits the canal would bring to the country. Istanbul Canal is strategically located in western Istanbul, connecting the Sea of Marmara and the Black Sea.
The Europe canal will be 45 km long, 400 to 1,000 meters wide, and up to 25 meters deep. And will be connected to Istanbul’s European side via six bridges. I live along the Regent’s Canal in London, where the houseboat community is thriving.
Prediction
It is predicted that 160 ships or tankers will be able to navigate the island per year. Reducing pressure on the island’s busy Bosphorus. President Erdoğan called the project his own “crazy project” and emphasized its importance in 2021. We consider the Istanbul Canal a project to “save the future of Istanbul. Ensure the safety of life and property of the inhabitants of Istanbul-Bosphorus and also its surroundings.” The canal is scheduled for completion in 2027 and also aims to develop Istanbul as a global commercial center by providing an important waterway parallel to the famous Bosphorus.
This strategic location is expected to attract a number of commercial and tourism projects, further improving the city’s economic prospects. The value of the Istanbul Canal Project is estimated at 20 billion pounds, including 8 billion pounds for construction land on both sides of the canal and his 12 billion pounds for the construction of the canal. This significant investment reflects Turkey’s commitment to building modern infrastructure that will foster economic growth and strengthen its global standing. The development of the canal project promises not only to change the landscape of Istanbul but also to strengthen Turkey’s position as a major player in international trade.
