Turkish President Tayyip Erdogan speaks during a news conference after an agreement-signing ceremony between Turkey and Venezuela at Miraflores Palace in Caracas, Venezuela.
Ankara: Turkey will hold a tender for the construction of a 45-km shipping canal running parallel to the Bosphorus, President Tayyip Erdogan said on Thursday, despite a government freeze on new investments as it reins in spending.
“The Kanal Istanbul has been delayed too much. We will hold a tender for it in 2019 and start the process,” Erdogan told a meeting of his AK Party in Ankara.
Earlier this year, Erdogan had said his government would not consider news investments, casting doubt on the $16 billion plan.