Contractors undertake $560 mln worth of projects abroad

ISTANBUL

The total value of the 14 projects undertaken abroad by the Turkish contracting sector in the first quarter of this year has reached $560 million, according to data from the Trade Ministry.

The average value of those international projects was around $40 million in the January-March period.

The average project value was $39.3 million in 2022, $ 64.6 million in 2023, and $85.1 million last year.

Türkiye is among the top 10 countries receiving the largest share of annual international contracting revenues.

Since 1972, Turkish companies have undertaken 12,505 projects in 137 countries, with a total value of $535.3 billion.

Russia leads with $103 billion in projects completed by Turkish contractors, followed by Turkmenistan at $54 billion and Iraq at $35.3 billion.

Saudi Arabia came fourth with $33.7 billion in projects and Libya fifth with $31.4 billion.

Kazakhstan also stands out with projects valued at $29.6 billion. During this period, $22.7 billion worth of projects were undertaken in Algeria, $20.6 billion in Azerbaijan, $20.3 billion in Qatar and $17.7 billion in the United Arab Emirates.

Among the projects undertaken abroad by Turkish contractors, roadways, tunnels and bridges took the top spot with a 13.9 percent share.

This was followed by residential projects at 13.4 percent, power plants at 8.4 percent, railways at 7 percent and commercial centers at 6.8 percent.