Turkish contractors granted contracts worth $3.8 bln abroad in 4 months

ISTANBUL

Turkish contractors have been awarded 102 projects abroad worth a total of $3.75 billion in January-April, the Trade Ministry data have shown.

In April alone, local companies were granted 28 projects in foreign markets worth $673 million.

Between 1972 and April 2022, Turkish construction firms have undertaken 11,243 projects in 113 countries and the size of those contracts amounted to $457.6 billion.

Russia was the largest market for local contractors that have awarded some $95.3 billion worth of projects in this country in five decades. Turkmenistan came second at $49.9 billion and was followed by Iraq at $31.6 billion. Turkish contractors also have undertaken $29.5 billion worth of projects in Libya and raked in another $27 billion in revenues from the contracts they have been awarded in Kazakhstan.

To date, the projects local construction firms have undertaken in the Commonwealth of Independent States region and the Middle Eastern countries accounted for $211 billion (46 percent) and $114 billion (25 percent), respectively, in total. Since 1972, Turkish companies have also been granted $34.4billion (7.6 percent) worth of projects in Europe.

Most of the projects Turkish construction companies undertook abroad between 1972 and 2021 were house developments. Those projects’ share in total was 13.7 percent or $62.6 billion. Local companies were also granted $60.7 billion worth of highway and tunnel construction projects during the same period, a 13.1 percent share in total.

Turkish construction companies also undertook $39.1 billion worth of power plant development, while the value of the airport projects the local firms assumed abroad amounted to $30.2 billion.

Turkish contractors were granted contracts worth $46.2 billion between 1972 and 2002 in foreign countries. However, since 2002, the international project value exceeded $400 billion. The value of the projects undertaken in the last 20 years corresponded to 90 percent of all projects.