Turkish contractors are focusing more on the markets in the Balkan nations amid the war between Russia and Ukraine, projects in Romania in particular, business daily Dünya has reported.
Recently, Turkish companies won a tender worth 266 million euros to build a section of a highway in Romania.
With this latest deal, the value of the projects Turkish contractors were awarded in this country reached 2.5 billion euros in the past four months.
Due to the problems in the North African and the Middle Eastern markets as well as the ongoing war in Ukraine, Turkish construction companies are increasingly turning to the European markets to do business with Romania and Bulgaria becoming major destinations for them.
“The Balkan nations offer important opportunities,” said Erdal Eren, the head of the Turkish Contractors’ Association (TMB).
Turkish companies may bid for projects worth $3 billion in Romania soon, he added.
According to data from the Trade Ministry,to date the value of projects Turkish contractors assumed in the Balkan nations, including Albania, Bosnia-Herzegovina, Bulgaria, Croatia, Kosovo, Serbia, Romania, Slovenia and Greece, amounted to $19.2 billion, accounting for 4 percent of all contracts Turkish companies have been awarded abroad.
Since the start of 2023, Turkish contractors were awarded several major projects in Romania.
Two local firms, Makyol and Yapı Merkezi won a tender to build a section of the Sibiu-Faragas highway.
A consortium, which includes Gülermak, was awarded a 1.8-billion-euros contract to build the Cluj-Napoca metro line.
Gülermak also won a tender together with Romanian company Somet for metro construction in the capital Bucharest with a 260 million euro bid.
In February, Esta and Günal Group won a tender for a road project in this country.
Since 1972, local companies have undertaken a total of 197 projects worth $6.7 billion in Romania.
In Bulgaria, Turkish contractors were awarded 75 contracts worth $2.2 billion in the past five decades.
Turkish contractors are expected to assume $20 billion worth of projects abroad this year, Eren said.
In the first four months of 2023, Turkish companies were awarded a total of 68 contracts worth $4.8 billion.
From 1972 to the end of April 2023, Turkish contractors have undertaken nearly 12,000 projects in 133 countries with a total value of $478 billion, according to data from the Trade Ministry.