40 Turkish firms among top 250 global contractors

ISTANBUL

Turkey took third place after China and the U.S. in terms of the number of companies in Engineering News Record’s (ENR) 2022 Top 250 International Contractors list.

There are 40 companies in the list versus 78 Chinese and 41 U.S.-based contractors, according to the statement by the Turkish Contractors’ Association (TMB).

“Seven Turkish contractors were among the top 100 global companies,” it added.

With $18.3 billion in revenues, Turkish companies’ share is 4.4 percent in the global market.

Local firms generated the largest revenue from operations in Europe (including Russia) at $8 billion, followed by the Middle East at $5.9 billion.

Those Turkish contractors in the top 250 list are Rönesans, Limak, Ant Yapı, Yapı Merkezi, Enka, Tekfen, Onur, TAV, Nurol, Esta, Gülermak, Aslan, Sembol, Kuzu, Kolin, Yüksel, Eser, IC İçtaş, Çalık, İlk, GAP, Polat Yol, Alarko, Dekinsan, Gürbaş, Tepe, Makyol, Metag, Üstay, Yenigün, Summa, Gama, NATA, Cengiz, MBD, Feka, IRIS, SMK, STFA and Doğuş.

There are reasons to be hopeful for the future for the industry as large-scale infrastructure projects, which will support global economic recovery, are planned, said Erdal Eren, the chair of TMB.

“We maintain our short-term target of generating $20 billion revenues from projects abroad. For the medium-term, our target is to carry out $50 billion worth of projects globally,” he added.

Total international contracting revenue for the Top 250 dropped 11.1 percent to $420.4 billion in 2020, from $473.1 billion in 2019, ENR said, adding that this decrease also marks the largest single-year drop recorded in ENR international contracting data going back to 2003.

Median Top 250 contracting revenue on this year’s list is down to $413.4 million from $501.4 million, a 17.6 percent drop.

The reported Top 250 backlog was more stable. This year, 91 firms listed increased backlog, 75 decreased and 41 stayed the same. Last year those numbers were 91, 64 and 48 respectively.