Hyundai Engineering & Construction Co., Itochu Corp. and Chinese builders are among companies that may bid for a $5 billion contract to build a network of roads and a suspension bridge across Turkey's Dardanelles waterway, according to people familiar with the matter.
At least five bidding groups may compete in the Jan. 26 auction, the people said, asking not to be identified because participant details are confidential. Turkey's transport ministry invited proposals from contractors in October for the construction of an alternative route to Europe to bypass congested traffic across Istanbul's Bosporus strait.
Itochu will team up with Japan's IHI Corp., Turkey's Nurol Holding AS and Makyol Insaat AS in the bidding, two of the people said. Hyundai, Italy's Astaldi SpA, IC Ictas Insaat AS and Kalyon Insaat Sanayi ve Ticaret AS is another group considering a bid, three people said. Sichuan Road and Bridge Co. of China is also planning to bid with local partners, two people said.