by the partnership of Yapı Merkezi from Turkey and SK E&C from South Korea. The build–operate–transfer model adopted at the Eurasia Tunnel, has brought together the private investment dynamism and their project experience, and the support of international financial institutions. The concession lasts 29 years. Partnership contract includes guaranteed minimum revenue and profit sharing for parts exceeding guaranteed revenue. The European Bank for Reconstruction and Development (EBRD) is supplying a finance package worth US$150 million. Other components of the US$1.245 billion financing package include a $350 million loan from the European Investment Bank (EIB) and financing and guarantees from Export-Import Bank of Korea and K-Sure, also with participation from Sumitomo Mitsui Banking Corporation, Standard Chartered, Mizuho Bank, Türkiye İş Bankası, Garanti Bank and Yapı ve Kredi Bankası. A hedging facility for the transaction is provided by some of the lenders as well as Deutsche Bank. Project segments The project consists of three main segments: European side Construction of five U-turns as underpasses and seven pedestrian crossings as overpasses along Kennedy Street that stretches between Kazlıçeşme and Sarayburnu as a shoreline road beside the Sea of Marmara. Widening of the entire Segment 1, which is approximately , from 3x2 lanes to 2x4 lanes. Bosphorus crossing Construction of a , two-deck road tunnel with two lanes on each deck, a toll plaza and an administrative building on the western end and ventilation shafts on both ends of the tunnel. Asian side Widening from 2x3 and 2x4 lanes to 2x4 and 2x5 lanes along an approximately stretch of the current D100 road that links at Göztepe to Ankara-İstanbul State Highway, and construction of 2 bridge intersections, 1 overpass and 3 pedestrian bridges. Technical details The American firm Parsons Brinckerhoff was responsible for the design, while the British Arup Group and American Jacobs Engineering Group undertook the technical and traffic studies and HNTB provided independent design verification. The geotechnical survey was by the Dutch consultancy Fugro. The tunnel boring machine (TBM) was supplied by the German manufacturer Herrenknecht. The Italian company Italferr was in charge of works management and project review on behalf of Administration. The French company Egis Group will be in charge of the operation and maintenance. The TBM section crossing the Bosphorus is long while another is constructed by the New Austrian Tunnelling method (NATM) and cut-and-cover method. The tunnel's excavation diameter is , which allows an inner diameter of with