Turkish company Kuzeyboru signs $6.88B contracts with Iraq, UK

Kuzeyboru, a leading Turkish pipe manufacturer, has signed significant contracts with Iraq and the U.K. worth a total of ₺238.4 billion ($6.88 billion).

The company announced that it has entered into an “Infrastructure Pipe Purchase Agreement” worth $2,427,120 (approximately ₺83.5 million) with both Iraq and the U.K.

Besides these international contracts, Kuzeyboru has also secured domestic contracts totaling ₺155 billion ($4.48 billion), bringing the total value of these agreements to ₺238.4 billion ($6.88 billion). This amount represents 5.23% of the company’s 2024 sales target.

Iraq’s investment in infrastructure: A major contract for Kuzeyboru

On Oct. 25, Iraq’s Minister of Water Resources, Avn Diyab, announced that Turkish companies had been awarded six projects to improve the country’s irrigation infrastructure.

Following this announcement, it was revealed that Kuzeyboru was one of the Turkish companies chosen to participate in these critical projects.

The company confirmed the agreement in a public disclosure via Türkiye‘s Public Disclosure Platform (KAP), which stated that the contract for infrastructure pipes in Iraq was officially signed.

Domestic contracts: A strong market presence

Alongside its international deals, Kuzeyboru has strengthened its domestic position by securing contracts worth ₺155 billion ($4.48 billion) for “Drinking Water and Sewerage Infrastructure Pipe Purchases.”

These contracts contribute significantly to the company’s ongoing expansion in Türkiye.

Total contract value: $6.88 Billion

Kuzeboru emphasized that the total value of all signed contracts—both domestic and international—amounts to ₺238.4 billion ($6.88 billion). This is a substantial boost to the company’s business, with the contracts’ value accounting for 5.23% of its 2024 sales target.

Looking ahead

The signing of these massive contracts marks a major milestone for Kuzeyboru, enhancing its standing both in Türkiye and internationally. As the company continues to expand its reach in global markets, the value of these contracts will play a crucial role in meeting its ambitious growth targets for 2024.