Construction & Infrastructure
Over the past 15 years, Turkey has spent nearly US$100 billion on new railways, roads, tunnels, bridges, seaports, airports (including the new Istanbul Airport), hospitals and energy facilities, many utilizing Public Private Partnerships. The country plans to spend an additional US$325 billion over the next five years, including for such mega projects as the Three-Level Istanbul Grand Tunnel (to facilitate traffic flows between the Asian and European parts of the city), the Istanbul Canal (to promote safe shipping between the Black Sea and the Marmara Sea), a US$2 billion bridge system in western Turkey (for vehicles and rail transport), and an extension of its two-line 1,213 km high-speed rail network to 11,000 km by 2023.
The European Bank for Reconstruction and Development (EBRD) has invested US$12 billion in over 280 projects in Turkey since 2009, of which about half are for sustainable energy and resources. Since Turkish contractors are also involved in many international markets, there is excellent potential for Canadian firms to join in third country building projects. In 2018, 46 Turkish contractors were active around the world, second only to China. In the period 1972 to 2017, Turkish firms undertook 9,000 projects in 115 countries, worth a total value of US$350 billion.