Turkish companies make up almost one-fifth of the top 250 contracting firms globally, according to the US’ Engineering News Record (ENR), Turkey’s trade minister said on Tuesday.

With 44 firms on the list, Turkey ranked second by number on ENR’s 2020 Top 250 International Contractors list, and seventh by total revenues, Ruhsar Pekcan told a meeting organized by the Turkish Contractors Association.

Spanish firm ACS was the top firm, followed by Hochtief Aktiengesellschaft (Germany) and Vinci (France), according to ENR.

Pekcan noted that while the top 250 firms’ revenues have fallen 3% in 2020 due to global uncertainties and the COVID-19 pandemic, Turkish contractors’ revenue has not seen any negative impact.

“This is an indication of the adaptation, dynamism and strength of our contracting companies to difficult conditions,” she underlined.

The Turkish contracting sector has tackled projects worth $407 billion in 127 countries since 1972, including $50 billion in 1972-2002 and $357 billion since 2002, she highlighted.

Last year the sector took on projects worth $19 billion despite trade wars and political uncertainties, she said, and added: “We targeted over $20 billion for 2020 but the pandemic affected negatively international projects.”

After the pandemic, Turkey will see projects top $20 billion, she said.

*Writing by Gokhan Ergocun

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