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Turkish contractors to play key role in Saudi Arabia's project

22 February 2024 [21:25] - TODAY.AZ

By News Centre

Erdal Eren, President of the Turkish Contractors Association (TMB), stated that Turkish contractors will play a key role in Saudi Arabia's "Vision 2030" project and will undertake major works.

"Within the framework of the development of our country's relations with Saudi Arabia, the country's new construction industry will generate a new investment of 10 billion dollars annually for the Turkish construction industry. It seems that it has become a market with business potential," Eren said.

Erdal Eren told the AA correspondent that Turkish Contractors have become a sought-after brand in every corner of the world with their rich experience in different markets, cost-effective service at international standards, ability to take initiative, willingness to take risks, and extensive partnership experience.

Eren stated that Saudi Arabia, one of the traditional markets, is the 6th country in which the most projects are undertaken among foreign contracting services, with 402 projects worth 27.8 billion dollars carried out by Turkish companies.

Stating that they focused on activities for the Gulf countries and Iraq, where extremely positive developments have been experienced in political relations, especially with Saudi Arabia, during the past year, Eren said, "With the impact of the activities carried out, our companies have undertaken 16 projects worth 2.7 billion dollars in Saudi Arabia in 2023. It is pleasing that the level of 2018 has been reached again."

Erdal Eren pointed out that they have planned to organise a contractors’ delegation visit to Saudi Arabia this year, under the chairmanship of Minister of Trade Ömer Bolat, in order to further develop existing relations.

Stating that Turkish contractors will play a key role in Saudi Arabia's "Vision 2030" project and undertake major works, Eren said, "Within the framework of the development of our country's current relations with Saudi Arabia, it is seen that the country has become a market with a new business potential of 10 billion dollars annually for the Turkish construction industry."

Eren emphasized that, according to the studies announced by the relevant organizations, it is envisaged that projects worth 3.9 trillion dollars, 52 percent of which will be superstructure, will be implemented in the Middle East and North Africa region in the coming period, and that the largest investment is expected to be made by Saudi Arabia.

Eren reminded that they had the opportunity to get first-hand information through the contracting delegation visits and high-level contacts they held last year.

"From the information we obtained on this occasion, we have understood that infrastructure and superstructure projects worth 1.4 trillion dollars are planned to be carried out in Saudi Arabia in the next 15 years," he said.

TMB President Eren noted that, as Turkish contractors, they want to take part in the Neom, Diriyah Gate, Qiddiya, Red Sea Global, Al'Ula projects and other energy, water, housing, and infrastructure projects in the country within the scope of the Saudi 2030 vision and Giga projects program, and that they are working and taking initiatives in this direction. He stated that they continue to do so.

Eren underlined that Neom stands out as the biggest project on Saudi Arabia's agenda.

"Our member companies are willing to take part not only in this project but also in all infrastructure and superstructure projects in the country. For this purpose, our companies aim to complete the registration and certification procedures required by the Saudi Arabian legislation," he said.

Erdal Eren pointed out that, considering the available data in the country, the route of the sector in 2024 will be mainly foreign projects, and stated that Saudi Arabia stands out as the target country with the greatest potential.

He noted that Iraq emerged as another target country with projects such as energy, health, housing, schools, and hospitals planned to be realised in the country with the Development Road project.

Pointing out that, as Turkish contractors, they work in Eurasia, the Middle East, and North African countries and are increasing their activities in the Sub-Saharan Africa region, Eren said, "In addition, we are closely monitoring new markets such as the Far East and Latin American countries. In this regard, we will undertake projects abroad every year in the coming period. We maintain our new project amount target of 20 billion dollars in the short term and 50 billion dollars in the medium term," he said.

URL: http://www.today.az/news/regions/245199.html

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