Friday, July 29, 2011
ISTANBUL- Hürriyet Daily News
Some $6 billion of the Turkish construction business abroad consists of mechatronics, a sub-sector of the construction business, AE Arma-Electropanç Chairman Kemal Kızılhan told the Hürriyet Daily News on the sidelines of a Friday meeting, forecasting that the amount would reach nearly $9 billion by the end of this year.
Last year, Turkish construction companies took on over 500 projects worth $20.3 billion in 48 countries according to the Turkish Contractors’ Association, or TCA. These companies hope to operate projects worth $30 billion abroad by the end of the year, bringing fresh funds to the Turkish economy, he said.
Despite losing billions of dollars due to Libyan turmoil and payment difficulties in Turkmenistan, Turkish construction companies are continuing to expand in many countries, said Kızılhan. AE Arma-Electropanç provides electrical, mechanical and electronic installation and design works for facilities, such as large housing complexes, business centers, hotels and hospitals in Russia, Turkey, Dubai, Abu Dhabi, Cyprus, Qatar and Azerbaijan.
New skyscraper in Moscow
Kızılhan also said his company, which has been active in the Russian construction market for the last 23 years, was preparing to sign a deal with a Russian firm for the electric and electronic installation of a new building called “Pilot 16” in Moscow, which will surpass the height of Mercury City Tower, the tallest building in Europe. AE Arma- Electropanç was a subcontractor on the Mercury City Tower, which is nearing completion.
The new building will be nearly 432 meters tall and will cost close to $800 million. “Our contract for the electric and electronic installation work is worth $101 million,” he said.