KuwaitPR.com, Online Press Release from Kuwait
 
Oil & Gas(Energy and Industry)
Filter PR by
  
Turkey offers $350bn projects market opportunity

Dubai, United Arab Emirates, 23 June 2015: The value of major active projects in Turkey is worth almost $350bn representing an excellent new opportunity for GCC contractors and consultants impacted by falling oil prices, according to new research by MEED Projects, the region’s leading online projects tracking service.

Thanks to its booming economy and fast-growing population, Turkey has really accelerated its nationwide infrastructure programme in recent years. For active projects worth more than $100m, the largest individual sector is transport, with $135bn worth of projects either planned or under construction, mainly in the form of new roads, railways and airports. 

It is closely followed by the power sector, which has $125bn worth of projects planned or under construction, including nuclear, solar and wind power plants, and then construction, with $40bn worth of major real estate projects in Turkey’s three main cities of Ankara, Istanbul and Izmir.

Major projects include the $35bn Edirne and Kars high-speed railway, Turkey’s $15bn third nuclear power complex, the $11bn third international airport in Istanbul, and the $10bn Istanbul canal project providing an alternative link between the Mediterranean and the Black Sea.

What’s equally attractive for international companies is the fact that most major projects are carried out on a public-private-partnership (PPP) basis, with contractors investing in projects on a long-term concession basis.

“The combination of large and liberalized projects market along with transparent tendering processes makes Turkey an immensely attractive proposition for contractors, consultants and suppliers alike who are concerned about a potential slowdown in project activity in the Middle East caused by lower government spending on the back of falling oil revenues,” says Ed James, Director of Content & Analysis at MEED Projects. “For companies looking to diversify and enter new markets, Turkey is an ideal opportunity especially given its proximity and cultural affinity with the region.”

GCC developers are a common sight in Turkey lured by the stable and growing economy. Dubai’s Emaar is building the $280m Emaar Square mixed-use project in Istanbul; Saudi Arabia’s ACWAPower is the main developer of the 950MW Kirikkale independent power project (IPP); while Qatar’s Nebras is looking at developing Turkey’s lignite reserves to develop up to 4,500MW of new power capacity.

MEED Projects carried out three months of extensive on-the-ground research on more than 1,000 individual projects in Turkey to create the database, the first of its kind covering all sectors in the country. The addition of countries brings to 21 the number of countries covered by MEED Projects, and to 14,500 the number of active projects tracked by the service.

Posted by : Kuwait PR Network Editorial Team
Viewed 43960 times
PR Category : Energy and Industry
Posted on : Tuesday, June 23, 2015  5:41:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of KuwaitPR.com.
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories

 
 
Most Viewed Press Release posted in the last 7 days
Cerruti 1881 MOLVENO timepiece and cufflinks [18237-Views]
NARSissist Wanted Eyeshadow Palette Get More Views [15969-Views]
NARSissist Wanted Cheek Palettes I & II Raise Your Profile [12550-Views]
The Trendiest Fall/Winter 2018 Accessories From Etoile ‘La Boutique' [10746-Views]
Joyalukkas opens newest showroom in Kuwait at Farwaniya [8524-Views]
Kindle Devices Now Available on SOUQ.com [8225-Views]
NARS Erdem SS19 Beauty Report [7872-Views]
Huawei Consumer Business Group Announces 2018 H1 Business Results [7134-Views]
Diana Arno Expands Online Shopping to Middle East [6855-Views]
The Future Is Here [6154-Views]
Aseel Al-Hamad tells CNN: Nothing is impossible [5568-Views]
FOREO To Attend TFWA: the World's Largest Travel Retail Show [4358-Views]
Clean Air in Classrooms Improves Student Performance [3760-Views]
Renault Talisman The Best Combination Between High Performance & Comfortability [2423-Views]
SNC-Lavalin signs Al Zour Refinery contract in Kuwait [2341-Views]
Jumeirah Messilah Beach Hotel & Spa Kuwait appoints new Director of Sales & Marketing [2218-Views]
Nissan Al Rai Showroom Welcomes You on Fridays From 4 pm to 8 pm [2185-Views]
The Charismatic SUV - Renault Koleos Can Be Yours today! [2013-Views]
Burgan Bank Contributes to the Integration of Children with Autism into Society through Support of A... [1960-Views]
Burgan Bank Provides New Summer Trainees Modern Banking Experience [1742-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories