Evaluation of treasury guaranteed build operate transfer projects in Turkey within the scope of transportation investments

In this study, Build-Operate-Transfer projects with treasury guarantee in Turkey were evaluated within the scope of transportation investments. Realization of large infrastructure investments, as in the field of transportation, requires a significant amount of financial resource accumulation as well as high technology. As in other developing countries, the search for alternative sources has come to the fore due to the limited opportunities to make these investments in Turkey. Among the Public Private Partnership models, the Build Operate Transfer model has also become a project financing method, which has been developed against these difficulties and is increasingly used. In the Build Operate Transfer model, it is aimed to reduce the financial burden of the public, to increase the share of the private sector in investments, and to make service delivery more effective. This financing model finds application in transportation investments that require serious financing. In recent years, it has been preferred by the General Directorate of Highways in the construction and operation of transportation investments. In the study, the Build Operate Transfer model has been comprehensively discussed and the application possibilities in the field of transportation have been evaluated. In the study, Yavuz Sultan Selim Bridge and Northern Marmara Motorway, Istanbul Airport and Gebze Izmir Motorway projects, which were realized with the treasury guaranteed Build Operate Transfer model and were selected as examples, were examined. As a result, it has been seen that some financial, social and political risks are encountered during the construction phase of the projects examined in the study and realized with the Build Operate Transfer model. However, it has been determined that the projects may also contribute to the country during the operation phase.