Newly introduced Avrasya Tüneli (Eurasia Tunnel), besides reducing İstanbul's traffic load, offers an economic transport alternative as well. Bosporus has got another passageway. Eurasia Tunnel, opened in 20th December, not only relieves İstanbul’s traffic but also shortens a roundabout rout and Europe and Asia bridged once again through a highway under water. Started to be constructed on 26th February 2011, the tunnel is located between Kazlıçeşme and Göztepe rout under the sea bottom. 14.6 kilometers long and 106 meters below sea level, tunnel is expected to shorten the average passage time to 15 minutes from 100 minutes. Cooperated by a consortium between the Turkish company Yapı Merkezi and the Korean partner SK, Eurasia Tunnel provides a highway alternative to the existing three bridges and Marmaray railway that connect the two continents. 1.8 kilometers south to the Marmaray Tunnel, the highway will decrease the traffic intensity between the coasts of İstanbul and costs four dollars per automobile and six dollars per van. With its 1,245 USD million investment cost the project was nominated “The Best Environmental and Social Application Award” in May 2015, “The Project of the Year” in November 2015, and “The Best Tunnel Project in the World” in October 2016. European Bank of Reconstruction and Development (EBRD) supported the project with 150 USD million and European Investment Bank provided a 350 USD million loan. Eurasia Tunnel is a build-operate-transfer project. After being operated by Eurasia Tunnel Operations and Investments (ETOI) Corp. for 25 years, 11 months and 9 days the project will be transferred to the Infrastructure Investments Head Office and the roads leading to the tunnel will be transferred to the İstanbul Metropolitan Municipality after the constructions are completed. The joint venture established between ETOI, Yapı Merkezi and SK E&C in 2009 will hold the license of the tunnel for 30 years and 6 months. The license will be transferred on April 2043. Particularly in the pre-opening stage the tunnel had been heavily debated on many media platforms. A survey was conducted on the Transportation Ministry Website so as to choose the name of the tunnel but it has been cancelled afterwards due to the confrontation it sparked in the public. Therefore, although the title “Mustafa Kemal Atatürk” took the most votes against the title “Sultan Abdülhamid Han”, who initiated the first tunnel project for Bosporus in history, neither of the titles were used and the tunnel was named as Eurasia Tunnel. In the opening ceremony Prime Minister Binali Yıldırım announced “The under-sea rout takes 4 minutes. Traffic on Unkapanı and Galata Bridges will also be reduced. Tunnel will annually help saving oil worth 160 TL million and 52 million driving hours. The tunnel will be operating 24 hours a day.” Eurasia Tunnel was drilled by a specially manufactured driller machine for the project. The drill was 13.7 meter wide which makes it the 6th widest tunnel in the world. Including the internet and mobile network systems, the tunnel was constructed to endure a magnitude 9 earth-quake. Besides with automobiles, public transport vehicles will use the tunnel whereas the pedestrians, motorcycles and heavy vehicles will not be permitted. Foundations of the Eurasia Tunnel Project dates back to a 1997 research conducted by İstanbul University on behalf of İstanbul Metropolitan Municipality. Based on this primary research findings, the feasibility report in 2003 indicated that the best option was a motorway tunnel. Following a second feasibility report conducted by the Ministry of Transport, Maritime Affairs and Communications with the Japanese company Nippon Koei Corp. in 2005 the best route had been identified to comply with the ecological and social environment with the minimal risks and costs possible. Entrance on the European side opens up into the İstanbul’s precious preservation area, the historical peninsula. The project was executed with maximum care to avoid any damage on the cultural heritage under UNESCO World Heritage Center’s periodic surveillance. Though its price seem higher in comparison to other alternatives, shorter rout and significantly less traffic intensity than the bridges decreases the average fuel consumption and becoming an economic option. Besides, unlike the per-head pricing in ferry lines, the pricing will be per-vehicle. Multi-storey tunnel on both directions allows both Hızlı Geçiş Sistemi (HGS) and Otomatik Geçiş Sistemi (OGS) payment options. With its 100k vehicle capacity the tunnel will relieve İstanbul’s traffic although the heavy vehicles are not permitted through, and by decreasing the traffic load on other routes, it will indirectly contribute to the commercial transportation flow in İstanbul.