Turkish infrastructure firm Gulermak wins $400M railway tender in Serbia
A train arrives at the Ksiecia Janusza station on Warsaw Metro Line II, one of the international metro projects completed by Turkish contractor Gulermak in Poland, accessed on April 26, 2025. (Photo via gulermak.com.tr)
Turkish construction firm Gulermak has secured first place in the tender for a major railway construction and modernization project in Serbia, winning a contract valued at €348.9 million ($397.92 million).
According to a statement submitted by Gulermak to Türkiye’s Public Disclosure Platform (KAP) on Friday, the tender result was officially confirmed and communicated to the company by the relevant Serbian authorities.
Under the scope of the project, the joint venture formed by Gulermak and YSE Yapi Sanayi will be responsible for the reconstruction and modernization of the Belgrade–Nis railway line, specifically the Stalac–Dunis section.
The project also includes the construction of a second railway track, enhancing the transportation capacity and infrastructure reliability of the region.
Turkish Gulermak’s infrastructure projects span metros, tunnels
Established in 1958, Gulermak Heavy Industry Construction and Contracting is recognized as one of Türkiye’s leading railway construction companies, as it has been involved in the construction of more than 260 kilometers (161.5 miles) of underground tunnels and 120 metro stations worldwide.
The company has an extensive portfolio of high-profile infrastructure projects, including the Istanbul M4 Metro line in Türkiye, the Dubai Metro in the United Arab Emirates, the Kanpur Metro in India, and the Swinoujscie Tunnel in Poland.
According to its public filings, the company recorded revenue exceeding $1 billion in 2024. Gulermak also launched its initial public offering (IPO) in January and is currently traded on the Istanbul Stock Exchange under the ticker symbol GLRMK.
