Mystery investment firm offers to finance $12.9 billion Istanbul canal

21 January 2020
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Investment company Money Maker Management has offered to provide all financing for Kanal Istanbul, a 75 billion-lira ($12.8 billion) construction project announced by Turkish President Recep Tayyip Erdoğan.

Turkish media including financial newspaper Dünya said the company would arrange capital for the 45-km (28-mile) waterway, designed to divert shipping from Istanbul’s Bosporus Straits, and all related bridges and tunnels, citing an interview with CEO George Ghorayeb. The firm, which has set up an office in Istanbul, is the seventh-largest fund in the United States, Dünya said.

But the company’s website – moneymakermanagement.com – provides no information about past or current projects. It also lists no office address aside from a branch in Dubai, run by an individual named Ahmad Kurdi. The address of the office – M12/M13 Mezzanine Floor Pyramid Center, Oud Metha, Lebanon, is also the address of Ahmad Kurdi Fine Jewellery, according to the latter’s LinkedIn profile.

Read more: ahval

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