Korea Expressway Corporation said Wednesday it has won a 135 billion won ($94 million) operations and maintenance (O&M) contract for the Kınalı-Malkara Highway in Türkiye.
The Kınalı-Malkara Highway is part of a route connecting Istanbul, Türkiye's capital, to the western city of Çanakkale. The 106-kilometer, six-lane highway is being built at a total project cost of 2.6 trillion won.
Korea Expressway Corporation will provide pre-opening consulting during the construction period and perform O&M operations for 10 years following the highway's opening in 2029. The 135 billion won O&M contract is the largest in the company's history, surpassing the previous record of 104 billion won for Bangladesh's N8 Highway O&M project secured in 2022.
With this contract, the company's cumulative project value in Türkiye has grown to 300 billion won.
"This project participation is the result of our technology being internationally recognized, along with support from the Export-Import Bank of Korea," Korea Expressway Corporation CEO Ham Jin-kyu said. "We will accelerate our entry into the global O&M market to achieve our goal of securing overseas highway O&M contracts for 1,000 kilometers by 2030."
