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Turkish overseas contracting sector undertook $8.7 billion worth of work

The amount of projects undertaken by the Turkish foreign contracting sector in the 9-month period of this year was $8.7 billion. From 1972 until the end of September, the sector undertook 11 thousand 365 projects worth $462.2 billion in 131 countries.

According to the compilation made from the data of the Ministry of Commerce, the overseas contracting sector undertook 11,365 projects worth $462.2 billion in 131 countries from 1972 until the end of September.

Despite the serious political instability in the target countries, cyclical problems and the effects of the COVID-19 outbreak, the industry received 366 jobs worth $16.1 billion in 2020.

Last year, in parallel with the decrease in the negative impact of the epidemic on the world economy, the total cost of the projects undertaken by companies abroad reached $30.8 billion. The number of projects undertaken during this period was recorded as 431.

The number of projects undertaken by the sector in the 9-month period of this year was 215, and the total project cost was approximately $8 billion 690 million. The average cost of the projects undertaken this year was determined as $40 million 420 thousand.

Russia and Turkmenistan are in the top two

In the distribution of projects undertaken abroad by contracting companies since 1972, according to countries, Russia ranks first with a share of 20.6%, while $95 billion 385 million of projects have been undertaken in the country so far.

Turkmenistan followed Russia with a share of 10.8%. The amount of projects undertaken in this country has exceeded $50 billion. Iraq ranked third with a share of 6.9% and a project of $32 billion 115 million undertaken. These countries were followed by Libya, Kazakhstan and Saudi Arabia.

Looking at the areas where the most projects have been undertaken to date, it was seen that housing and residence projects took the first place with a share of 13.9%. The cost of housing projects was $64 billion 190 million.

$30 billion 412 million airport project undertaken

Housing projects were followed by highways, tunnels and bridges with a share of 13.2% and a project value of $61 billion 27 million.

The energy sector ranked third in the works undertaken abroad with a share of 8.5%. The amount of projects undertaken by this sector so far has reached $39 billion 223 million.

To date, contractors have undertaken foreign trade center projects worth $33 billion 958 and airport projects worth $30 billion 412 million.‚Äč

On the other hand, in the list showing the world’s largest 250 contracting firms, which ENR Magazine determines every year based on the total cost of international projects undertaken in the past year, Turkiye took its place with only 8 contracting firms in 2003, while this year it showed up with 42 firms. 8 of these companies in the 2022 issue of the magazine were among the top 100 companies in the list, while 2 Turkish companies entered the top 50. Turkiye ranks second after China in terms of the number of companies in the list.

Source: Trthaber / Translated by Irem Yildiz

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