Turkey second place on the list of top international contractors

Turkey second place on the list of top international contractors

The head of Renaissance (Rönesans) Holding, the biggest Turkish contracting firm in Russia, Dr. Erman Ilıcak, who I happened to meet during the Saint Petersburg Economic Forum last May, is very happy nowadays. He, indeed, has reason to be.

Let us begin with the visit of Russian President Dmitri Medvedev to Rönesans Holding’s Comcity project in Moscow. Rönesans Holding, which has a $2 billion turnover in Russia, is building the Comcity project in a new settlement in Moscow and this project is evidently very important for the Russian administration.   

Once completed, it will be the biggest and the most prestigious trade center in Moscow with its 11 office buildings, a shopping center, restaurant, hotel, bank and sports areas.

Let us not forget that due to the embargo imposed upon Russia by the U.S. and the EU because of the Ukrainian crisis, grandiose projects such as Comcity are a way of attracting foreign investors. This is the reason Medvedev was accompanied by Moscow Mayor Sergei Sobyanin while visiting Comcity, briefed by Rönenans CEO in Russia Cenk Düzyol.

Another noteworthy development regarding Rönesans occurred a few days ago in Turkmenistan.
In a ceremony, also attended by President Gurbanguly Berdimuhamedov, the foundation was laid for the GTG (Gas to Gasoline) project, contracted by the consortium formed by Rönesans and Japan Kawasaki Heavy Industries LTD.

In a facility to be built 50 kilometers away from the capital city Ashgabat, gasoline will be produced from natural gas.

According to Ilıcak speaking at the groundbreaking ceremony in Ashgabat, the $1.5 billion GTG project is a significant step in advancing Turkmenistan’s petrochemical and gas sectors.   

Rönesans Holding has been operating in Russia for 21 years and in Turkmenistan for five years.
The company holds the 53rd place on the list of top international contractors recently published in the international construction sector magazine Engineering News Record (ENR). Rönesans held 64th place last year on the same list.

The list prepared by the ENR is based on the income of companies gained through overseas activities. The list both reveals which countries lead in the world in contracting and also measures the success of other Turkish firms that have their signature on international projects like Rönesans Holding.

China is leading with 62 firms among the top 250 contracting firms. Turkey comes next with its 42 firms. The U.S. is third place with 31 firms.   

Let us see which firms are on the list, where Turkey had 38 companies last year.

Among the top 250 companies, the 52nd placeholder is Enka, one of the firms that first entered the Russian market right after glasnost and perestroika.

Right after Enka, holding 53rd place is Rönesans, TAV is 83rd place. Polimeks, which has undertaken numerous projects in Turkmenistan, is 86th place.

It is not possible for me to list all the remaining 38 Turkish firms on the ENR list, but reviewing the list, it is possible to say this:

The majority of Turkish companies have climbed upward on the list compared to the previous year, so as their turnovers.

As Head of the Executive Committee of Rönesans Construction, Uğur Koyunoğlu has emphasized the increase of the turnovers of Turkish companies is an indicator that Turkish companies are receiving a larger share of cake in the world.