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"It has been nine months since the Turkish Prime Minister announced Istanbul's Canal project, but officials have at last begun surveying land for the construction of the canal. The project has been called crazy, but developers have already seen land prices increase within the planned area even though there are strenuous objections by many.
According to officials the canal is due to be constructed in the north-western part of Istanbul close to Terkos Lake although estate agents are sure the location will be near to Degirmenkoy as property prices have increased by an incredible 200% during the past 12 months.
The aim of the canal project is to connect the Marmara Sea with the Black Sea which would save ships waiting to pass through the Bosporus Strait around $1.4 billion annually. During last year's elections the project was feted as being a major part of the Justice and Development party's campaign but after they won the election everything went strangely quiet.
Environmentalists think the project could be extremely detrimental to the Black Sea ecosystem, especially as there has been little scientific study to back it up. There are concerns that the canal project could diminish the amount of oxygen in the Marmara and Black Seas. Others are concerned that developing the north-western part of Istanbul would diminish the only green zone remaining in the city.
The plan has also had ramifications internationally as the Russian ambassador is anxious over the legal aspects of the project and is especially keen to preserve the Montreux Treaty as this allows free passage for civilian vehicles through the Bosporus and Dardanelles straits during peacetime. As yet there has been no announcement as to the feasibility of the project but unsurprisingly construction owners are keen for it to go ahead.
