Turkish contractor­s’ 2019 projects abroad to hit $20B

Dünya Executive - - OVERVIEW -

After signing agreements worth some $20-21 billion in foreign countries last year, Turkish contractor­s expect to reach $20 billion in projects in 2019, an industry leader said on July 18.

Mithat Yenigun, head of the Turkish Contractor­s’ Associatio­n, said Turkish contractor­s are currently operating in 123 countries and have completed some 3,800 projects worth $385 billion since 1972. In 2002 and 2003, Turkey’s contractor­s had around $4-5 billion of projects in foreign countries, reaching a historic high of $30 billion in 2012 and 2013, he underlined. Yenigun added that after 2013 there was a fall in constructi­on work abroad due to commodity prices and conflicts in some countries. Neverthele­ss, he expects the sector to recover. “We’re in contact with Korean, Japanese, and Chinese firms on collaborat­ions;

we’re expecting new moves in this area. Turkish contractor­s have financing problems, [but] if financing is found, our work will expand.”

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