SaudiArabiaPR.com, Online Press Release from Saudi Arabia,Riyadh, Jeddah, Dammam, Meccca and Medina
 
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 : Saudi Arabia,Riyadh, Jeddah, Dammam, Meccca and Medina PR Network Editorial Team
Viewed 37191 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 SaudiArabiaPR.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
NEW Peptide4 Night Recovery Cream-Oil [50360-Views]
The Power of Pro-Collagen [47962-Views]
Nailgrowth® Miracle Serum From Sally Hansen [38241-Views]
Make Room for Play and Celebration With IKEA During Dubai Design Week [36769-Views]
Time for Some AIGNER Love [35834-Views]
A Chat With Mr. David Benedek, the man behind BDK Perfumes. [32308-Views]
SOUQ ramps up operations ahead of White Friday Sale [31361-Views]
SOUQ Customers Enjoyed Biggest Regional Online Shopping Event in Record-Setting White Friday 2017 [26810-Views]
SUC signed MOU with Waldorf Astoria Ras Al Khaimah [25719-Views]
UAE National Day celebrated in Skyline Carnival 2017 [25231-Views]
LG bets high on Premium TV Market with industry leading OLED Technology [24862-Views]
Skyline Conducted Women of Substance: A Panel Discussion on Women Empowerment [24128-Views]
SUC conducted Tour Guide Training Program for SCTDA [23612-Views]
SUC Conducted the 10th CEO Lecture Series [23329-Views]
Dubai Wins Red Diamond Award for World's Greatest New Year's Celebration! [21837-Views]
Skyline Signed MoU with Jaipuria Institute Management [20726-Views]
Michael Kors Presents Spring 2018 Jewelry [20689-Views]
9th Skyline Inter-School Sports Festival [19389-Views]
The Penhaligon's Trade Routes Collection [16679-Views]
Malabar Gold & Diamonds makes historic gain Opens 11 showrooms in a day across 6 countries; Crossing... [12919-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories