Turkish construction sector to expand into South Africa, India
Turkish Contractors Association (TMB) President Erdal Eren said on Thursday that the construction sector must expand into new markets such as South Africa and India to boost investments and added that an accreditation system in the construction business is needed to assure that Turkish firms can assume further projects abroad.
Noting that Turkish construction firms undertake important projects abroad and accomplish them successfully, Eren pointed out that 31 Turkish constructors are included in the list of “The Top 225 International Contractors” for 2008, which was compiled by the international construction sector magazine Engineering News-Record based on contracting revenue from projects outside a firm’s home country. Turkish construction firms have undertaken some $130 billion worth of projects in 70 countries since they started to operate overseas, Eren said, adding that only $23.6 billion of this amount was for projects assumed last year. Recalling that the global financial crisis has influenced the construction sector, like all other sectors, he noted that a global contraction has been seen in the sector and they will deem it a success if they can reach 2008 figures this year.
Eren cited their aim as raising the sector’s turnover to some $50 billion per year, stressing that to achieve this goal they need to start operating in new markets, since the current markets Turkish firms are operating in are characterized by limited capacity. Noting that Turkish constructors carry out projects in North African, Middle Eastern and Gulf countries along with European and Asian countries, the TMB president said they have determined South Africa and India as their next target markets. Eren announced that they will hold talks in South Africa on Oct. 31 with the attendance of State Minister Zafer Çağlayan. He pointed out that both South Africa and India offer great investment opportunities for contractors, explaining that they believe South Africa is planning to launch $700 billion in infrastructure construction projects. China also plans to make a $500 billion investment in its infrastructure, he said, adding that Turkish construction firms’ aim is to take part in those projects.
16 October 2009, Friday
TODAY’S ZAMAN WITH WIRES İSTANBUL