Contractors received 4,100 million dollars of work abroad in the first quarter of the year

The number of projects undertaken abroad by the Turkish contractor sector in the first quarter of the year reached $4.1 billion.

According to the compilation made from data from the Ministry of Commerce, the overseas contracting industry undertook 11,700 projects worth $477 billion in 133 countries from 1972 to the end of March.

Despite severe political instability, cyclical issues and the effects of the Covid-19 outbreak in target countries in 2020, the sector received 370 jobs worth $16.2 billion.

HE SPENT THE LAST YEAR IN THE SHADOW OF WAR

In 2021, in parallel with the decline in the negative impact of the epidemic on the global economy, the total cost of projects undertaken by Turkish companies abroad increased to $30.7 billion.

The number of projects carried out during this period was recorded at 444.

The overseas contracting industry has spent the past year in the shadow of global economic woes and the Russia-Ukraine War.

In this period, the number of projects carried out by the sector was 492, and the total cost of the project was approximately 19.1 billion dollars. The average cost of projects undertaken last year was estimated at $38.8 million.

The sector undertook 52 projects in the first quarter of this year. The cost of the projects carried out during this period was recorded at 4 thousand 52 million dollars. The average cost of the projects carried out in the first two months of the year was estimated at 77.9 million dollars.

RUSSIA AND TURKMENISTAN CLASSIFY THE FIRST TWO

Russia ranked first with a 20.5 percent share in the distribution of projects carried out abroad by contractor companies since 1972, by country. To date, 97.9 billion dollars in projects have been executed in the country in question.

Turkmenistan followed Russia with a 10.7 percent share. The amount of the projects carried out in this country amounted to 50,800 million dollars. Iraq ranked third with a 6.9 percent share and a $33 billion project undertaken. These countries were followed by Libya and Kazakhstan.

The Saudi Arabian market, which the contracting sector is targeting for a larger share, came to the fore after these countries with a 5.2 percent share and a project cost of $24.8 billion.
Looking at the areas where the most projects have been carried out to date, it was noted that housing projects ranked first with a 14 percent share. The cost of these projects was 66.6 billion dollars.

Housing projects were followed by roads, tunnels and bridges with a 13.5% share and a project value of $64.6 billion.

The energy sector ranked third among the works carried out abroad with a share of 8.5 percent. The amount of projects carried out by this sector to date has exceeded 40.5 dollars.

Turkish contractors have completed shopping mall projects worth $34.7 billion and overseas airport projects worth $30.7 billion so far.

2 TURKISH COMPANIES IN THE TOP 50

On the other hand, in the list of the 250 largest contractor companies in the world, which is compiled annually by the ENR magazine based on the total cost of international projects carried out last year, Turkey occupies its place with only 8 contractor companies in 2003, while which was presented with 42 companies in 2022.

8 of these companies in the 2022 issue of the magazine were among the top 100 companies on the aforementioned list, while 2 Turkish companies entered the top 50.

Türkiye ranks second after China in terms of the number of companies on the list. (AA)