By Vugar Khalilov
Turkey's overseas contracting sector undertook 167 projects in the past nine months, with a total project cost exceeding $17.8 billion, Turkey's Commerce Ministry reported on October 6.
The international contracting sector, which has been increasing its business volume especially since 2003, undertook 10,860 projects worth $439.7 billion in 129 countries from 1972 until late September, the report added.
Despite serious political instability, cyclical problems and the effects of the new type of coronavirus (Covid-19) pandemic in the target countries in 2020, the sector received 354 offers worth 15.2 billion dollars.
The number of projects undertaken by the sector in 2021 was 167 and the total project cost amounted to over $17 billion. The average cost of the projects undertaken this year was $106.4 million.
In the distribution of projects undertaken abroad by contracting companies since 1972 by country, Russia ranked first with 20 percent. To date, $90.9 billion of projects have been undertaken in Russia.
Russia was followed by Turkmenistan with a share of 11 percent, where the amount of undertaken projects exceeded $49.1 billion. Iraq ranked third with a 7 percent share and 30.7 billion dollars of projects undertaken. These countries were followed by Libya, Kazakhstan, and Saudi Arabia.
Housing and residence projects with 13.7 percent took first place among the most undertaken projects since 1972. The cost of housing projects undertaken by the sector so far exceeded $59.5 billion.
Housing projects were followed by highways, tunnels, and bridges with a 12.8 percent share and a project cost of $56.3 billion.
The energy sector ranked third among the projects undertaken abroad with a share of 8.7 percent. The amount of projects undertaken by this sector so far has reached $38.1 billion.
To date, the contractors have undertaken a $33.2 billion trade center and $29.8 billion airport project abroad.
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