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TURKISH CONTRACTORS CONTINUE SUCCEEDING ON GLOBAL PROJECTS

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According to the data from T.R. Ministry of Economy, in the first nine months of 2016 total foreign construction services amount 4.1 USD billion. In this period, Turkish contractor companies have undertaken 65 new projects. From 1972 until the end of September 2016 the number of undertaken projects reached 8,772 in 110 different countries with an estimated value of 329.1 USD billion. Turkish contractor sector constructed important foreign projects, undertook 650 shopping mall and trade centers so far accounting for 28.5 USD billion. Between 1972 and 2016, Turkish companies contracted 8,830 projects worth 335 USD billion in 113 different countries. Approximately 213 USD billion worth projects of these are comprised of upper-structure projects such as housing, residences, hospitals, trade centers, socio-cultural facilities, military settings, and stadiums. 8.5 percent of these projects were recorded as trade centers and shopping malls. 650 trade center and shopping mall projects were established globally by Turkish contractors worth 28.5 USD dollar. Russia had the biggest share in terms of trade and shopping malls constructed whereas Kazakhstan, Ukraine, Saudi Arabia and Libya follow respectively. THE NEW MARKET, SUB SAHARAN AFRICA Putting the projects on hold in Libya, Iraq and Russia due to the adverse circumstances in these countries which accounts for the 35 percent of total foreign projects forced Turkish contractors to seek out new markets. Turkish companies recently head towards Sub-Saharan Africa countries whose incomes rely on oil and precious metal exports. Ethiopia, Nigeria, Sudan, Cameroon, Congo, Ghana, Mali and Senegal became target markets for Turkish contractors. Whereas investments such as highways, bridges, dams, housing, schools, congress centers, hospitals, tourism, natural-gas, and power plant projects shine out, it is reported that the fall of commodity prices in international markets negatively impacts these countries and probably delay the projected investment plans.