Turkey ranks second in world's top contracting firms

By Dilara Zengin

ANKARA

Turkey increased its contracting companies to 46 and ranked second among the top 250 global contractors in 2016, the Turkish Contractors Association (TMB) said on Friday.

Turkey had 40 international contracting companies in 2015, according to a list in the Engineering News Record (ENR) publication, the statement said.

ENR's Top 250 Global Contractors list is prepared based on the income of companies gained through overseas activities.

China led the list with 65 firms and the U.S. is in third place with 43 firms, the association said.

The contractors who made it to the list reported $468.12 billion in contracting revenue in 2016 from projects outside their home countries, marking a 6.4 percent decrease when compared to 2015.

The market share of Turkish firms was 5.5 percent in 2016, up from 4.6 percent in 2015, the association said.

The top 10 Turkish firms in the list were Ronesans, Polimeks, Enka, TAV, Yapi Merkezi, Alarko, Limak, Ant Yapi, GAP and Universal Acarsan.

Mithat Yenigun, the president of Turkish Contractors Association, said that the improvement of performance by Turkish firms is pleasing despite negative global conditions.

"In the last period, global economic uncertainties and geopolitics risks increased to a large extent. Investments in energy exporter countries are on a decline due to decreasing energy prices," Yenigun added.

Increasing market share of Turkish contracting firms is a big success despite negative developments, he added.