International Contractors’ revenue fell by 3% in 2020, although the revenues of Turkish companies were not affected, according to Turkish Trade Minister Ruhsar Pekcan.
Turkish companies make up almost a fifth of the world’s top 250 contractors, according to the US Engineering News Record (ENR), the Turkish Commerce Minister announced on Tuesday.
With 44 companies on the list, Turkey ranks second in the list of ENR’s top 250 international contractors for 2020 and seventh in total revenue, Ruhsar Pekcan said at a meeting hosted by the Turkish contractor company.
The Spanish company ACS was the leading company, followed by the Hochtief Aktiengesellschaft from Germany and Vinci from France, according to ENR.
Pekcan noted that, while the top 250 companies’ revenue fell by 3% in 2020 due to global uncertainty from the COVID-19 pandemic, the revenues of Turkish contractors did not experience a negative impact.
“This is an indication of the adaptation, the dynamism and the dynamics of our contracting companies amidst difficult conditions”, he underlined.
The Turkish contractor sector has undertaken projects worth $ 407 billion in 127 countries since 1972, including $ 50 billion between 1972-2002 and $ 357 billion since 2002, the trade minister said.
Last year, the sector undertook projects worth $ 19 billion despite trade wars and political uncertainty, Ruhsar Pekcan explained, adding: “We targeted more than $ 20 billion by 2020, but the pandemic negatively affected international projects”.
After the pandemic, Turkey will see projects worth $ 20 billion, he concluded. /ibna