The third bridge, which is being built at the cost of $4.5 billion (£2.8 billion/€3.3 billion), will be the longest combined road and railway bridge in the world, with a daily capacity of 270,000 cars.

It is due for completion by the end of 2016 and will significantly reduce traffic congestion on the major arteries between Europe and Asia, Turkish officials claimed.

The bridge is being built by the Turkish construction company Içtaş, which is also in the process of delivering the new international airport terminal in St. Petersburg.

By 2020 the Bosphorus will have five road and rail crossings, compared with just two in 2005.

The road network will have been extended by nearly 2,000 kilometres since 2005; and at 265km, the metro line will be nearly six times as long as it was during Istanbul's previous Games bid for 2012.


"We are gathering here today for a work of art," said Erdoğan.

"We are once more taking part in the ground-breaking of a magnificent project.

"The seven great works are no longer enough for the Seven Hills of Istanbul.

"Each one is renowned and recognised around the world.

"And the project for which we are laying the foundations today will be too: the third 'pearl necklace', the bridge we hope to see stretch across the Bosphorus very soon."

Istanbul 2020 officials hope that the new bridge will help ease fears that an Olympics in Turkey's financial capital could be hindered by the amount of infrastructure work needed in the city. 

"In Turkey, we know that actions speak louder than words," said Hasan Arat, leader of Istanbul 2020.

"This is an important milestone for the city of Istanbul and its people.

"We have set ourselves ambitious goals and we are taking bold steps to achieve them.

"Developments like the third bridge will make our city better connected than ever before.

"Just as importantly, they show we have the ability and the appetite to deliver major projects on time, on budget and to world-class standards.

"From day one, we have worked to engineer risk out of our Games plan.

"Istanbul 2020's Games concept is visionary and transformative, but landmark moments like today should reassure the Olympic Family that we can deliver our dream risk-free."

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