The amount of projects undertaken abroad by the Turkish contracting sector in the first quarter of the year reached $4.1 billion.
From 1972 until the end of March, the overseas contracting industry undertook 11,700 projects worth $477 billion in 133 countries.
Despite the serious political instability in the target countries, cyclical problems and the effects of the COVID-19 outbreak, the sector received 370 jobs worth $16.2 billion in 2020.
In 2021, in parallel with the decrease in the negative impact of the epidemic on the world economy, the total cost of the projects undertaken by Turkish companies abroad increased to $30.7 billion. The number of projects undertaken during this period was recorded as 444.
The overseas contracting industry spent the last year under the shadow of global economic problems and the Russia-Ukraine War. In this period, the number of projects undertaken by the sector was 492, and the total project cost was approximately $19.1 billion. The average cost of projects undertaken last year was calculated as $38.8 million.
The sector undertook 52 projects in the first quarter of this year. The cost of the projects undertaken during this period was recorded as $4 billion 52 million. The average cost of the projects undertaken in the first two months of the year was calculated as $77.9 million.
Russia and Turkmenistan are in the top two
Russia ranked first with a share of 20.5% in the distribution of projects undertaken abroad by contracting companies since 1972, by country. To date, $97.9 billion of projects have been carried out in the country in question.
Turkmenistan followed Russia with a share of 10.7%. The amount of projects undertaken in this country amounted to $50.8 billion. Iraq ranked third with a share of 6.9% and a project of $33 billion undertaken. These countries were followed by Libya and Kazakhstan.
The Saudi Arabian market, which the contracting industry focuses on to get more shares, came to the fore after these countries with a 5.2% share and a project cost of $24.8 billion.
Looking at the areas where the most projects have been undertaken to date, it was seen that housing projects took the first place with a share of 14%. The cost of these projects was $66.6 billion.
Housing projects were followed by highways, tunnels and bridges with a share of 13.5% and a project value of $64.6 billion.
The energy sector ranked third in the works undertaken abroad with a share of 8.5%. The amount of projects undertaken by this sector to date has exceeded $40.5 billion.
Turkish contractors have undertaken $34.7 billion of trade center and $30.7 billion of airport projects abroad so far.
International competition
On the other hand, in the list showing the world’s top 250 contracting companies, determined annually by the ENR magazine based on the total cost of international projects undertaken in the past year, Turkiye took its place with only 8 contracting companies in 2003, while it showed up with 42 companies in 2022.
8 of these companies in the 2022 issue of the magazine were among the top 100 companies in the aforementioned list, while 2 Turkish companies entered the top 50. Türkiye ranks second after China in terms of the number of companies in the list.
Source: Trthaber / Prepared by Irem Yildiz