HomeEconomy43 Turkish firms rank among 250 top int'l contractors

43 Turkish firms rank among 250 top int’l contractors

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A complete of 43 Turkish corporations entered the listing of the highest 250 worldwide contractors printed by the ENR journal, the Trade Ministry mentioned in a press release on Sunday, highlighting that Türkiye turned the second nation with essentially the most corporations on the listing, simply behind China.

Citing knowledge from the distinguished ENR journal, which has a historical past that may be traced to 1874, the ministry detailed Türkiye’s standing on the “ENR Top 250 International Contractors List.”

The listing was printed on Sept. 11, saying that the “revenue for the Top 250 International Contractors is at its highest since 2015, rising 16.6% to $499.7 billion last year.”

As per the variety of corporations, China ranked first with 81 corporations on the listing, adopted by Türkiye with 43 corporations, the ministry mentioned.

“The international revenues of these 43 Turkish contracting firms reached $18.5 billion in 2023,” it added.

Moreover, the ministry mentioned it was decided that the share of the revenues of Turkish contracting corporations throughout the whole revenues of the listed corporations was 3.7%.

“In the ranking based on international revenues, the Turkish contracting sector ranked 8th globally, ahead of the U.K., the Netherlands, Germany and Japan,” including that China took the highest spot with $122.9 billion in revenues.

In the 2024 listing, ready based mostly on the worldwide challenge revenues of contracting corporations for 2023, six Turkish corporations made it into the highest 100, whereas one Turkish agency entered the highest 50, the ministry additional mentioned.

The ENR report mentioned that the worth of latest challenge contracts for the highest 250 worldwide contractors rose by 15.1%. It, nonetheless, additionally famous that in survey feedback, the contractors shared “that ongoing geopolitical challenges are boosting project risks, slowing construction activity in some markets but also creating hotbeds of activity in others.”

After the COVID-19 pandemic, development prices have “significantly increased all over the world,” mentioned Mustafa Toprak, CEO of Istanbul-based contractor Esta Inşaat Sanayi Lojistik ve Dış Ticaret A.Ş., which is not any. 87-ranked.

Leading the listing of Turkish corporations was Limak Construction, which climbed two spots from the earlier yr’s listing to forty eighth place.

The Turkish firm identified for endeavor strategic works from airports to ports and highways, commenting on the listing, mentioned, “We are proud to announce that Limak Construction has been ranked 48th on the ‘Top 250 International Contractors’ list by ENR (Engineering News Record) for 2024, one of the most prestigious publications in the global construction industry.”

“Climbing two spots from last year, we have also earned the distinction of being the top Turkish company on the list,” it added.

“This achievement reflects our commitment to representing our country on the international stage, and we extend our heartfelt thanks to all our employees and stakeholders who contributed to this success.”

Meanwhile, the journal additionally printed the “ENR 2024 Top 225 International Design Firms,” which featured eight Turkish corporations, with Türkiye rating seventh based mostly on the variety of corporations.

The ministry cited the report to spotlight that essentially the most vital alternatives for the sector within the coming interval will probably be macro-scale tasks and funding plans.

It famous that macro-scale plans comparable to Africa’s Agenda 2063 and Saudi Arabia’s Vision 2030 are anticipated to offer momentum for the worldwide development sector.

“As the Trade Ministry, we will continue to contribute to the development of the market share of both our contracting firms and our design firms internationally by conducting delegation visits to many target countries in the upcoming period,” learn the assertion.

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