Turkish contractors undertook 241 projects worth $14.7B in 2017
- DAILY SABAH WITH AA, ISTANBUL
- Jan 27, 2018
Turkish contractors last year undertook some 241 foreign projects worth more than $14.7 billion, according to a Ministry of Economy report. The report on overseas contracting services revealed that Turkish contractors have carried out more than 9,258 projects worth $354.65 billion in 119 different countries since 1972.
In terms of regional distribution, the most number of these projects were carried out in the Commonwealth of the Independent States and the Middle Eastern countries.
During that period, Russia saw the highest number of Turkish-built projects. Around 19.4 percent of all the foreign projects, worth some $68.788 billion, were undertaken in the country. It was followed by Turkmenistan with a 13.2 percent share, corresponding to $46.844 billion.
Libya ranked third with an 8.1 percent share, amounting to projects worth $28.875 billion, while Iraq ranked fourth with a 7 percent share, valued at $24.827 billion.
Last year, Tanzania took the lead with a 17.3 percent share and projects worth $2.531 billion. Tanzania was followed by Saudi Arabia with 14.1 percent, Russia with 12.1 percent, and the United Arab Emirates with 9.1 percent, each amounting to $2.072 billion, $1.771 billion and $1.331 billion, respectively.
According to the report, a sub-Saharan African country for the first time surpassed the traditional markets of the Commonwealth of the Independent States and the Middle East.
Residential construction projects rank first among the projects carried out by Turkish contractors. The business volume in this area amounted to $46.865 billion. It was followed by the highway, tunnel and bridge construction with $45.743 billion, construction of trade centers with $29.396 billion, construction of airports with $24.357 billion and construction of power plants with $23.848 billion.
Residential constructions also topped the list last year with $2.844 billion and were followed by railway construction with $2.681 billion and power plant construction worth $2.413 billion. Turkish contractors also worked on airport construction worth $1.686 billion and highways, tunnels, and bridges worth $1.605 billion.According to the Ministry of Economy, the number of countries where Turkish contractors have carried out reached 119 with the addition of Liberia, Chad, Rwanda, Seychelles, Sri Lanka, Czech Republic, Estonia, Madagascar, Malawi, and Vietnam.
The ministry identified Ethiopia, Nigeria, Mozambique and Ghana as priority countries in a study on "target markets" in sub-Saharan Africa.