December 6, 2018 / 9:18 AM / 4 days ago

Erdogan says Turkey will hold Kanal Istanbul tender next year

FILE PHOTO: Turkish President Tayyip Erdogan speaks during a news conference after an agreement-signing ceremony between Turkey and Venezuela at Miraflores Palace in Caracas, Venezuela December 3, 2018. REUTERS/Manaure Quintero

ANKARA (Reuters) - 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.

Reporting by Ece Toksabay and Tuvan Gumrukcu; Editing by David Dolan

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