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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Türkiye awaits the "development path" and announces its cooperation with Iraq in future projects

    Rocky
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    Türkiye awaits the "development path" and announces its cooperation with Iraq in future projects Empty Türkiye awaits the "development path" and announces its cooperation with Iraq in future projects

    Post by Rocky Fri 22 Dec 2023, 4:29 am

    Türkiye awaits the "development path" and announces its cooperation with Iraq in future projects
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    Baghdad today - follow-up
    Turkish contractors are contemplating practical steps in the “Development Road” project linking Turkey and Iraq to the Gulf countries, to benefit from the investment opportunities resulting from the project .
    The head of the Turkish Contractors Union  (TMB),  Erdal Eren, says, "The steps that will be taken in the development road project, which will link Turkey to the Gulf region, are of great importance for Turkish contractors."
    Regarding his assessment of the sector’s activities and goals for the coming year, he added, “The contracting sector in Turkey is ahead of most similar sectors around the world.”
    The contracting sector in Turkey was negatively affected by the Corona pandemic and the Russian-Ukrainian war, and these two developments greatly affected the contracting sector, in terms of manpower, energy, and commodity prices.
    Erdal Eren adds, "We aim to re-accelerate foreign contracting services. They have put forward concrete proposals for the reconstruction of Ukraine and are working to maintain relations with Russia to raise them to previous levels."
    The “Development Road” project, which was announced by Iraqi Prime Minister Muhammad Shiaa Al-Sudani late last May, includes the land and railway road extending from Iraq to Turkey and its ports .
    The road begins from the port of Al-Faw in the Gulf of Basra, and is planned to consist of a land and railway road with a length of 1,200 kilometers within Iraqi territory, and to link it to the Turkish railway network .
    The project's investment budget is about $17 billion, and it will be completed in three phases, the first ending in 2028, the second in 2033, and the third in 2050 .
    Eren states that, with the improvement of political relations, they attach great importance to the Gulf states, “as they began to focus on activities that would increase the presence in the region, especially in Saudi Arabia and Iraq.”
    He continues: "In the first phase, we are looking at Saudi Arabia, which has annual trade potential worth billions of dollars. Saudi Arabia is a candidate to compensate for the decline in activities with Russia due to the war."
    He points out that "there is cooperation in future infrastructure and superstructure projects with Iraq," stressing that "the steps that will be taken in the development road project that will link Turkey to the Gulf via a road and railway network are of great importance to Turkish contractors . "
    The volume of international projects in the real estate sector in which Turkish companies have participated since the 1970s until today amounts to approximately 12,000 projects in 135 countries, worth $500 billion, according to data issued by the Turkish Ministry of Trade .
    While the value of projects undertaken by the Turkish contracting sector outside the country during the first seven months of this year amounted to 8 billion and 933 million dollars .
    According to data from the Turkish Ministry of Trade, the contracting sector has undertaken 120 projects outside the country during the first seven months of 2023 .
    Eren points out, “The Turkish Contractors Union, which consists of 40 companies, has maintained its global ranking in second place on the list of the top 250 international contractors, as it enters and expands into new markets.”
    He goes on to say: "We have set a target for the size of new projects that will be implemented outside Turkey every year in the coming period, at $20 billion in the short term, and $50 billion in the medium term."
    He expressed his expectation that the new year will be a year in which Turkish contractors attach greater importance to completing more successful projects outside the country .
    He also stressed that continuing to develop the contracting sector is within the framework of its vision to always be one step ahead of the rest of the competitors .
    Arn continues, “At the Contractors Union, we have held many meetings with many institutions and organizations at home and abroad, within the scope of sustainability and green transformation studies.”
    Last Tuesday, two delegations from Turkey and Iraq discussed the steps that must be taken in order to implement the “Development Road” project as soon as possible, as it is expected to contribute to the development of Iraq and the region.
    Source: Anatolia
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