Literature Commission inaugurates Saudi Pavilion at Muscat Book Fair    Saudi Minister of Culture holds talks with his Costa Rican counterpart in Jeddah    Saudi Arabia cracks down on fraudulent Hajj campaigns, urges pilgrims to use official channels    Nammos Amala Resort to open soon with Saudi-Greek designs    Saudi Arabia completes 674 Vision 2030 initiatives, achieves 93% of KPIs as ninth-year milestone marked    MHRSD: 80% of recruitment offices are non-compliant with regulations    GACA chief chairs 16th meeting of the Steering Committee on aviation's strategy    Alkhorayef praises advancements in Al-Kharj food industries sector    At least 50 Palestinians killed in Israeli strikes across Gaza    Teenage girl killed in French school stabbing attack    Trump claims meeting with China after Beijing denies any trade negotiations    Police fatally shoot man at Toronto's international airport    Saudi Theater Commission launches its Work and Learn Project in UK    The season has begun — and one comment shook us all    Jennifer Lopez dazzles in Jeddah with a Formula 1 performance    Saudi Arabia open to expanded 64-team World Cup in 2034, says sports minister    Average life expectancy in Saudi Arabia rises to78.8 years    Super Max Verstappen scorches to pole with record lap in Jeddah    Film Commission launches 'Cinema' initiative to enhance content    Famed Philippine film star Nora Aunor dies at 71    Pakistani star's Bollywood return excites fans and riles far right    Veteran Bollywood actor Manoj Kumar dies at 87    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Turkey becomes global power in construction
Published in The Saudi Gazette on 15 - 07 - 2010

The Pavelezkaya Plaza, seen on Tuesday, stands tall as a major landmark building in Moscow containing shops and office space, built by Turkish company ENKA Construction and Industry. Turkey is pursuing a strategy of political influence mixed with economic might in the developing world, with an army of Turkish cranes and bulldozers at work on major construction projects like in Moscow. – APANKARA - An army of Turkish cranes and bulldozers is at work across the Middle East, Central Asia and Africa, building dams, stadiums and highways in a boom that's helping drive Turkey to record growth and bolstering its efforts to become a regional power broker.
Frustrated by slow progress toward joining the European Union, Turkey's government is pursuing a strategy intertwining political influence with economic might in the developing world, particularly in Islamic countries and the former Soviet Union but extending in recent years across much of Africa.
Essential to the effort are the Turkish constructions firms at work in more than 80 nations, One is building Dubai's new subway system in a joint venture with Japanese companies. Others are responsible for much of the construction in Kazakhstan and Kurdish-controlled northern Iraq in recent years. In parts of the Middle East and Central Asia, Turkish flexibility at meeting kickback demands and handling complex laws give them an edge, experts say.
While Turkish builders don't yet rival their giant competitors in Europe, the US, China and Japan, the value of Turkish overseas projects soared from $750 million (¤596.71 million) in 2000 to $23.6 billion in 2008, before sliding to $20 billion last year during the global financial crisis. The government says it hopes to increase the volume of international contracts to around $50 billion by 2015.
Leading construction trade journal Engineering News-Record included four Turkish firms among the world's top 225 international contractors in 1999. Ten years later, that number rose to 31, which generated $14.05 billion in revenue from projects outside of Turkey and represented 3.6 percent of all international revenue reported by the ENR's top 225, the journal said.
Turkish delegations to countries in the developing world often include hundreds of business executives. Turkey has recently signed bilateral agreements with countries including Russia, Libya and Syria to mutually waive entry visas, easing travel and trade. It added dozens of new destinations, including Baghdad and Nairobi, for national carrier Turkish Airlines.
Zafer Caglayan, the state minister in charge of foreign trade, said Turkey would increase the number of diplomatic missions in Africa from 12 to 27 this year. Thirty-five percent of Turkish overseas building was in Africa last year, he said.
In the capital of Kazakhstan, one of five Central Asian countries with close linguistic and ethnic ties to Turkey, Turkish companies are responsible for an estimated 70 percent of construction since 1997.
“That includes everything from roads to stadiums, shopping centers, schools and five-star hotels,” Ozer Oral, secretary-general of the Kazakh-Turkish Businessmen Association said by telephone from Astana.
Turkish firms have long been active on the international construction market, but the search for higher profit margins has driven more outreach over the last 10 to 15 years, said Gary Tulacz, a senior editor at Engineering News-Record. “Part of this may be from some of the difficult economic times in Turkey early in this decade, which made the international market more attractive to Turkish companies,” Tulacz said.
Turkey restructured its ailing banking sector after emerging in 2001 from a deep financial crisis that saw the economy shrink 8.5 percent as inflation hovered around 80 percent.
Turkey is heavily dependent on the textile, automotive, manufacturing and tourism industries but the construction sector is one of the forces driving Turkey's record growth of 11.7 percent in the first quarter of this year, the fastest expansion in about six years.


Clic here to read the story from its source.