Turkey second to China for foreign contract wins

Turkish contractors have secured some US$220 billion in contracts beyond national borders in the past 10 years, according to the country’s Economy Ministry.

The Ministry also states that its construction and engineering firms now rank second to China in terms of foreign projects undertaken.

According to the report, since the first overseas project took place in Libya in 1972, Turkish firms have been awarded 9,018 contracts in 117 countries, generating a total of $344.7 billion.

While, in 2008, the average project cost was $37.1 million, the figure has more than doubled in the last decade, to $79.3 million.

The greatest percentage of contracts for Turkish firms have been awarded in Russia, with projects totalling $67.6 billion (19.6% of the total). In Turkmenistan, projects worth $46.8 billion (13.6%) were awarded, while Libya generated $28.9 billion (8.4%).