Turkish Construction Companies Operate in 48 Countries

Turkish construction companies undertaking business abroad spread across 48 countries in 2010, a recent report says. Turkmenistan has become the top country, replacing Russia with a 20.9 percent share and $4.3 billion total in Turkey’s construction business abroad. Oman, Georgia, Qatar, Morocco and Azerbaijan are the rising star

Turkish contract companies took on 517 projects worth $20.3 billion in 48 countries around the world last year, according to a recent report by the Turkish Contractors Association, or TCA.

Despite contraction in the sector due to the recent global financial crisis, Turkish contractors achieved great success abroad in 2010. Highway, bridge and tunnel projects ranked in the top spot with a 12.6 percent share in Turkey’s businesses abroad last year, followed by housing projects with 12.4 percent.

Turkmenistan became the top country with 20.9 percent, totaling $4.3 billion, in Turkey’s construction business abroad last year, according to data. Libya, which was the first market that Turkish construction companies opened up to, ranked second with a 12.1 percent share. Contractors from Turkey undertook projects worth of $2.5 billion in Libya last year, according to the report.

In Turkey’s annual construction business, the share of Iraq was 10.8 percent ranking third with a total of $2.2 billion, followed by Russia with $1.7 billion and 8.3 percent share, and Iran with $1.1 billion having 5.5 percent share.

Oman, Georgia, Qatar, Morocco and Azerbaijan are also some of the countries in which Turkey undertook great amounts of construction projects. Turkey’s construction projects totaled $979.3 million in Oman, $939.6 million in Georgia and $882.9 million in Qatar.

Among projects that Turkey conducted abroad, sport facilities including Olympic complexes, stadiums and ski centers had nearly 10.8 percent share, energy projects such as natural gas power plants and wind turbines have 7.1 percent. This is followed by other projects including hotels, parks and tourist-purpose facilities with 6.4 percent.

In regards to regions, Turkish construction companies undertook the most projects in the Commonwealth of Independent States, or CIS, which includes former Soviet Republics, with a total of 203 projects totaling $8 billion last year.

Middle East countries ranked second with a total of 57 projects worth $6.7 billion, followed by African countries with 78 deals worth of $3.9 billion. Turkey conducted 15 projects in European countries and totaled $1.2 billion, according to data from the TCA.

The share of Africa, Middle East and CIS among the sum of the construction projects managed by Turkey abroad is 91.5 percent in 2010, the report said.

Russia remains in its top spot in the construction business of Turkish companies conducted between 1972 and 2010. In the last 38 years, projects undertaken in Russia totaled $33.8 billion. During this period, Libya ranked second with $26.4 billion, followed by Turkmenistan with $20.7 billion.

May 2, 2011
SOURCE: HURRIYET DAILY NEWS