42 Turkish contractors in top 250 list

ISTANBUL

Some 42 Turkish companies entered ENR’s (Engineering News Record) 2022 Top 250 International Contractors list, up from 40 firms that made it on to the previous list.

The top 10 Turkish companies in the list are Rönenans, Limak, Yapı Merkezi, Enka, Ant Yapı, Tekfen, Onur Taahhüt, Esta inşaat, Alarko and TAV.

Combined revenues of the 42 Turkish contractors in the list amounted to $20.4 billion, increasing their share in the global market from 4.4 percent or $18.3 billion to 5.1 percent.

Based on international revenues, 8 Turkish contracts were among the top 100 global companies, the Turkish Constructors’ Association (TMM) said in a statement.

In 2019, 44 local firms entered the list with combined international revenues of $21.6 billion, capturing a 4.6 percent share.

Between 1972 and July 2022, Turkish contractors have undertaken more than 11,000 projects in 131 countries with a total worth of $459.6 billion.

The $10 billion mark was surpassed in 2005 for the first time, and in 2015, the value of contracts Turkish companies were awarded reached an all-time high of $83.4 billion with 285 projects.

China and the U.S., have 79 and 41 companies in this year’s list.

International revenue for the Top 250 contractors fell 5.35 percent between 2020 and 2021, said the ENR, adding that, however, most of that decrease is attributable to a change in accounting.

“Amid an increasingly complex global construction market, Top 250 International Contractors report that owners are placing a greater emphasis on meeting basic project goals—delivered on time, under budget and at promised value.”

But with supply chains still rebounding from COVID-19, and some economies now feeling the ripples of the war in Ukraine, even basic work needs skill and strategy from contractors to keep rising construction costs and risks in check, it added.