Turkish contractors awarded $6 bln worth of projects abroad this year

ISTANBUL

Turkish contractors were awarded a total of 156 projects worth $5.94 billion in foreign countries from January to July this year, data from the Trade Ministry have shown.

The average size of the projects awarded to Turkish companies abroad in the first seven months of the year was $38 million, according to the ministry.

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.

In 2021, the value of 416 projects abroad amounted to $72.2billion, up from the previous year’s 358 projects with a combined worth of $44.3 billion.

Over the past four decades, Russia has been the largest market for Turkish contractors. Local construction companies have undertaken $95 billion worth of projects in Russia between 1972 and July 2022, accounting for 21 percent of all projects abroad. Turkmenistan came second at $49.9 billion, followed by Iraq at $31.7 billion. In Libya, Turkish companies have been awarded $29.5 billion worth of projects.
Kazakhstan, $27 billion, and Saudi Arabia, $24.3 billion, were other major markets for Turkish contractors.

Housing projects were the main field of business, accounting for 14 percent - or $63 billion - of all projects Turkish companies assumed since 1972.

Infrastructure - highway, bridge and tunnels - and energy plant projects accounted for 13.3 percent or $61 billion and 8.5 percent or $39.1 billion, respectively.

In 2021, 40 Turkish companies made it to the ENR’s prestigious top 250 international contractors list, whereas 78 Chinese and 41 American firms featured on the list. The top 250 contractors’ total international revenues stood at $420.4 billion, and Turkish companies’ share in that was 4.4 percent or $18.3 billion.