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Turkish Contractors Achieved
$20 Billion Business Target Abroad

Turkish contractors undertook $20.3 billion worth of work with 196 new projects they took abroad and that the target set by the Association for this year as 20 billion dollars was exceeded just within 10 months. The Turkish Contractors Association achieved this amount as the end of October 2021.

 

According to the written statement made by the Turkish Contractors Association (TMB), Turkish contractors undertook work worth $20.3 billion with 196 new projects abroad as of the end of October. With this amount, the target of 20 billion dollars for the whole of 2021 was just achieved in 10 months.

 

Turkish contractors reached the highest average project value of all time with an average project value of more than 103 million dollars.

 

The average project cost raised to 83 million dollars in latest 2015 and declined to half of this figure in the last period. According to the Ministry of Commerce data, Turkish contractors undertook 10,890 projects worth $442.2 billion in 130 countries from 1972 to the end of October 2021.

 

"The Increase in Oil Prices Revived the Leading Markets of the Sector"

 

The President of the Turkish Contractors Association Erdal Eren stated that the success of Turkish contractors abroad is pleasing. He said " Achieving the target of 20 billion dollars before the end of the year, after a 2-year hiatus, with the effects of the problems experienced in the global market before the new type of Covid-19 epidemic and then the epidemic conditions, it shows the work determination of Turkish contractors.

 

He stated that the fact that the average project cost has reached the highest figure of all time shows that our contractors are carrying out more and more great works in the world.

 

Eren said that the project cost of approximately $7 billion undertaken in 10 months in Russia, which is the largest market for the sector, is a record, and that the recent rise in oil prices have begun to revive the prominent markets of the sector.

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