Turkish contractors ink $26 billion global deals

Turkish contractors ink $26 billion global deals

ANKARA - Anatolia News Agency
Turkish contractors ink $26 billion global deals

A photo of İbrahim Tatlıses, a famous singer in Turkey and many Arab countries, is seen on a contractor’s ad signboard in Arbil in this file photo.

The volume of international contracts won by Turkish construction firms reached $26.1 billion in 2012, a 31 percent increase from a year earlier, breaking an all-time record, Economy Minister Zafer Çağlayan has said.

“The construction sector carried out 433 projects abroad that raised project values to $26.1 billion by a 31 percent increase from 2011 to 2012.

While the total value of the projects abroad hiked in 2012, their average value per project also increased from $40 million to $60 million when compared to 2011,” he said.

Turkmenistan ranked first by a 18.8 percent share of the projects’ value among target markets, said Çağlayan, adding that the investments in this country contributed significantly to breaking the record, with 80 projects worth $4.9 billion.

The construction sector also assumed 114 projects worth $4.4 billion in Iraq, where Turkish firms invested the most. Turkish construction firms are largely active in reconstructing northern Iraq.

Business in 100 countries

Çağlayan announced that Turkish construction companies have signed contracts with almost 100 countries for 2013 projects. He also pointed out that the Turkish firms would reinvest in Libya in 2013 after a rupture in the construction business between the two countries.

The minister stressed that while the Turkish construction sector contributed to the development of other countries, it also influenced Turkey’s export of construction materials. “The construction material exports rose to $20.52 billion by a 7.4 percent increase between 2011 and 2012, thanks to construction projects abroad.”

Çağlayan said that the Turkish construction sector ranked second in the world, after China.
Infrastructure projects

Transportation Minister Binali Yıldırım declared that there would be several projects in transportation and communication fields in 2013 with 102 new projects, 434 ongoing projects and 111 projects ready to be put into service.

Yıldırım stated that they accomplished more than 10,000 projects worth 140 billion Turkish Liras in the last ten years, in accordance with their aim to complete the infrastructure and superstructure of Turkey’s transportation and communication sectors.