The Turks have succeeded! We overtook the USA

The Turkish Contractors Association (TMB) made a statement regarding the 2022 results of the “World’s Top 250 International Contractors List”, which is published by Engineering News Record (ENR), one of the international construction industry publications, based on the revenues of contractors from their activities abroad in the previous year.

TURKEY OVERTAKE THE USA

Accordingly, while China ranked first in the list with 79 companies, Turkey took the second place with 42 companies and the USA took the third place with 41 companies.

Despite the shrinkage in the global market, the increase in the revenues of Turkish contractors also came to the fore. In 2021, when vaccination became widespread in the Kovid-19 epidemic and rising oil prices came to the fore, Turkey increased its performance and regained the second place in the list that it left to the USA last year.

2 TURKISH COMPANIES IN THE TOP 50 LARGEST

Turkish companies increased their share in total revenues of the listed companies from 4.4 percent in the previous year to 5.1 percent, with $20.4 billion in revenue. Thus, Turkey rose one place in the 2022 list according to international revenues and became 7th. With this figure, Turkey was ahead of England, Austria and Japan. According to the international project revenues of the contracting companies for 2021, the number of Turkish contractors among the top 100 companies in the 2022 list is 8. Two Turkish companies were among the top 50 companies.

The activities of Turkish companies concentrated mainly in the regions of Europe ($8.8 billion), including Russia, the Middle East ($5.6 billion), Africa ($3 billion) and Asia ($2.5 billion) in 2021.

THE TURKS SUCCESSFULLY: WE ARE A WORLD BRAND

TMB President Erdal Eren, whose views are included in the statement, stated that the contractors managed to overcome the difficulties despite the increasing problems in the international market and that, as he promised, they brought the country’s name to the second place in the global giants league again, “We are proud of the fact that 42 of our companies are on the ENR list for 2022. ‘Turkish contracting’ is a world leader. Our contractors stand out in the international construction industry with their ability to do business at international standards, on time and at affordable costs, their work experience in difficult and risky geographies, and their skills to develop cooperation.” made its assessment.

“THE INCREASING IN THE SHARE OF THE GLOBAL CONSTRUCTION MARKET IS ALSO PLEASANT”

Pointing out that this success is also important at a time when the problems in traditional markets continue and the need for financing increases, Eren said:

“The increase in our share in the global construction market is also pleasing. Last year, we reached a new project size of 31 billion dollars abroad with the effect of the epidemic being brought under control to a certain extent and the increase in oil prices, and accordingly, we revised our annual new project target to 30 billion dollars in the short term. We have been shaken by the Russia-Ukraine war at the beginning of 2022. It is our greatest wish that the human tragedy will come to an end. It is inevitable that there will be loss of regional jobs due to the war. The high oil prices and the heated political relations with the Gulf countries will support our industry and make it the center of attention of the global construction industry. “Financial resources are needed to compete in the emerging Sub-Saharan African market. Our other prominent goal is to increase the number of Turkish workforce employed in our overseas projects from the current level of 35 thousand to 100 thousand, if necessary arrangements are made.”

On the other hand, the awards to the contracting companies that entered the ENR lists in 2020 and 2021 were given by President Recep Tayyip Erdoğan at the ceremony held on August 24.

The names of the Turkish contracting companies included in the “World’s Top 250 International Contractors List” are as follows: