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Turkey to spend billions on infrastructure!

October 8th, 2009

notesLooks like we construction workers and companies should be heading over to Turkey asap, if the UK Government is to be believed.

The UK government encourages firms to apply for construction opportunities in the country

Turkey is to spend billions of pounds on major infrastructure and regeneration projects, which could provide work for UK firms. The UK government is encouraging British construction companies to look at “multi-billion pound construction opportunities” in Turkey including plans to build 600,000 housing units, a high speed rail link between Istanbul and Ankara and a 500ha regeneration project in Istanbul.

Sir Andrew Cahn, chief executive of UK Trade and Investment, the arm of government that helps British firms work overseas, said: “Turkey is a tremendously exciting market. Quality infrastructure is a key component to a successful economy and the Turkish government is committed to spend billions of pounds on major infrastructure and regeneration projects. UK companies have the expertise and capabilities to deliver on these initiatives.”

UKTI has produced a report on Turkey, which highlights the following upcoming projects:

Major infrastructure projects

  • Nabucco Project – 3,300km pipeline which will bring gas from Asia to Central Europe. Cost approximately £8bn, to commence work in 2010.
  • Bosphorus Crossings – upgrading two road bridges, new rail tunnel
  • Istanbul – Ankara high speed rail project
  • Izmit Bay Crossing
  • New motorway proposals including 2,250km on new road (more than double current motorway network)

Regeneration

  • projects

  • Kartel Waterfront Project
  • 500ha regeneration project in Istanbul – to include a port, marina, luxury hotels, recreational areas and residential and office blocks
  • Masterplan for 2km continuous ecological corridor won by Llewelyn Davies Yeang

The report’s author David Howell from DMH Consultancy said that despite the global slowdown, Turkey’s economy is expected to grow by up to 3% in 2010 and it’s predicted it will be Europe’s third largest economy by 2050.

He said: “As well as major infrastructure projects like the Nabucco pipeline, the Turkish government is also planning several major regeneration initiatives. In Istanbul for example, it’s planning to transform 500 hectares of wasteland into a waterfront port and marina with luxury hotels, recreational areas and residential and office blocks.

“As the world’s ninth most popular tourist spot, with over 20 million visitors each year, there are also plenty of opportunities for British business stemming from the tourism sector. Additionally, 600,000 housing units are required per year to meet the demands of Turkey’s population growth.

“I encourage UK companies to take a serious look at this exciting market.”

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