Turkish contracting sector’s international projects reach $11.2 billion in 2024
Türkiye ranked second with 44 companies in the ‘World's 250 Largest International Contractors’ ranking of ENR, the international construction industry magazine, Istanbul, August 22, 2019 (AA Photo)
Turkish contracting sector undertook projects abroad amounting to $11.2 billion in the first eight months of the year, according to recent data from the Ministry of Trade.
Türkiye’s contracting business displayed a significant performance around the world despite the risks of the coronavirus pandemic and the Russia-Ukraine war in recent years.
While the number of international projects realized fell significantly due to the pandemic in late 2019 and 2020, the sector showed signs of a recovery in the following year.
Last year, the Turkish contracting sector realized 433 international projects worth $28.1 billion, despite global economic problems and the war in Ukraine.
In the eight months of this year, Türkiye’s contracting business undertook 148 projects abroad.
The average project value rose from $64.9 million last year to $75.7 million in 2024.
Since 1972, the Turkish contracting sector has carried out 12,277 projects with 137 countries until August this year, while most projects were carried out in Russia.
Contracting projects conducted in Russia reached $102.3 billion from 1972 to August 2024, while Turkmenistan, the second most worked-in country, saw projects amounting to $53.3 billion in the same period.
The Turkish contracting business carried out projects worth $34.9 billion in Iraq, $31 billion in Libya, and $29.5 billion in Kazakhstan since 1972.
Of all the projects carried out by Türkiye’s contracting sector abroad, 13.9% made up highways, tunnels and bridges and 13.8% consisted of housing, while power plants amounted to 8.6% of all projects, trade centers 7.1%, and airport investments took up 6.6%.
