Business Monitor International


Turkey Infrastructure Report

Published 10 November 2014

  • 81 pages
  • Instant access to your report online and PDF format through your account library
  • Includes 3 free updated quarterly reports
 
$1,295.00
Turkey Infrastructure Report

BMI View :  A buoyant pipeline of projects ,   government guarantee s for investors and a wave of planned privatisations bode well for growth in Turkey's construction and infrastructure sector.   However, f inancing risks have grown over the past year , which we believe will dent growth over the longer term. We note that Turkey will remain one of the most attractive markets in the region   in spite of this .  

There continues to be downside risks to Turkey's healthy construction sector outlook, stemming from the major depreciation in the lira making the cost of foreign credit prohibitively high, which exacerbates the underdeveloped domestic long-term financing market. Despite these headwinds and with major government support in the form of debt guarantees and protection for concessionaires, we continue to expect robust construction and infrastructure growth.

On the back of a strong project pipeline, we maintain a healthy growth outlook. Average real construction industry growth for the period 2015-2023 is forecast at 4.9%.

  Key Forecasts And Developments

  • We forecast average real growth in the transport infrastructure sector of 5.5% between 2015 and 2023. Construction has begun on Istanbul's third airport and  new bridge across the Bosphorus. The consortium building the connecting highway has secured financing for the next  phase of construction. The successful sale of 30%  Socar's Turkish subsidiary Petlim Ports, which is developing the port (also known as the Aegean Gateway Terminal), to US investor Goldman Sachs is indicative of the attractive investment profile many Turkish infrastructure assets still hold.

  • Turkey's power privatisation scheme continues, and will likely see large investments made in the sector. The distribution network has now been fully privatised and the government hopes to earn an additional USD13bn in revenues from the privatisation of the remaining portfolio of power generation assets. We forecast average real...

Table of Contents

BMI Industry View
7
SWOT
9
Infrastructure SWOT
9
Industry Forecast
11
Construction And Infrastructure Forecast Scenario
11
Table: Infrastructure & Construction Industry Data (Turkey 2012-2017)
11
Table: Infrastructure & Construction Industry Data (Turkey 2018-2023)
12
Transport Infrastructure - Outlook And Overview
17
Table: Transport Infrastructure Industry Data (Turkey 2012-2017)
17
Table: Transport Infrastructure Industry Data (Turkey 2018-2023)
18
Major Projects Table - Transport
28
Table: Major Projects - Transport
28
Energy And Utilities Infrastructure - Outlook and Overview
31
Table: Energy & Utilities Infrastructure Data (Turkey 2012-2017)
31
Table: Energy & Utilities Infrastructure Data (Turkey 2018-2023)
32
Major Projects Table - Energy & Utilities
39
Table: Major Projects - Energy & Utilities
39
Residential/Non-Residential Building - Outlook And Overview
43
Table: Residential & Non-Residential Building Industry Data (Turkey 2012-2017)
43
Table: Residential & Non-Residential Building Industry Data (Turkey 2018-2023)
43
Major Projects Table - Residential/Non-Residential Construction And Social Infrastructure
47
Table: Key Projects Residential/Non-Residential
47
Industry Risk Reward Ratings
50
Turkey - Infrastructure Risk/Reward Index
50
Turkey - Risk/Reward Index
50
Rewards
50
Risks
51
Central And Eastern Europe - Infrastructure Risk/Reward Index
52
Limited Access To Funding
56
Table: Central And Eastern Europe Risk Reward Index
57
Competitive Landscape
58
Table: Turkey - Major Domestic Construction Players
62
Company Profile
64
Enka Insaat
64
Table: Enka H113 Results
66
Global Industry Overview
67
Table: Construction Industry Value, Real Terms, % Change
68
Table: BMI's Top 5 Markets
72
Methodology
74
Industry Forecast Methodology
74
Sector-Specific Methodology
75
Risk/Reward Index Methodology
79
Sector-Specific Methodology
80
Table: Infrastructure Risk/Reward Index Indicators
80
Table: Weighting Of Indicators
81

The Turkey Infrastructure Report features Business Monitor International (BMI)'s market assessment and forecasts covering public procurement and spending on all major infrastructure and construction projects, including transportation and logistics by land, sea and air; power plants and utilities, and commercial construction and property development. The report analyses the impact of regulatory changes and the macroeconomic outlook and features competitive intelligence on contractors and suppliers.

BMI's Turkey Infrastructure Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Turkish infrastructure and construction industry.

Key Benefits

  • Benchmark BMI's independent infrastructure industry forecasts for Turkey to test other views - a key input for successful budgetary and planning in the Turkish infrastructure market.
  • Target business opportunities and risks in the Turkish infrastructure sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Turkey.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).

Coverage

BMI Industry View

Summary of BMI’s key industry forecasts, views and trend analysis covering infrastructure and construction, regulatory changes, major investments and projects and significant national and multinational company developments. These are broken down into construction (social, commercial and residential), transport (roads, railways, ports, airports, etc), and energy & utilities (powerplants, pipelines and so on).

Industry SWOT Analysis

Analysis of the major strengths, weaknesses, opportunities and threats within the infrastructure and construction sectors and within the broader political, economic and business environment.

BMI Industry Forecasts

Historic data series (up to 2012) and forecasts to end-2024 for all key industry indicators, supported by explicit assumptions, plus analysis of key developments in the market and risks to the main forecasts. Indicators include:

Construction: Industry value (USDbn); contribution to GDP (%); total capital investment (USDbn); real growth (%).

Construction industry real growth forecasts (%) and industry value (USDbn) forecasts for industry sectors are split into Residential and Non-residential and Infrastructure sectors. Where the data is available for particular countries the infrastructure is further broken down into indicators for the transport subsectors of roads, railways, airports and ports and the energy and utilities sub-sectors of power plants and transmission grids, oil & gas pipelines and water infrastructure. This dataset is unique to the market.

The reports also include analysis of latest projects across the infrastructure sectors (transport, utilities, commercial construction).

BMI’s Infrastructure Risk Reward Index

BMI’s Risk Reward Index provides investors (construction companies, suppliers and partners) looking for opportunities in the region with a clear country-comparative assessment of a market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and  demographic data points. These provide indices of highest to lowest appeal to investors, with each position explained.

Market Overview

An assessment of the competitive landscape and key challenges to entering the market. Details of the largest companies active in the sector across the sub-segments of the industry, including the key financial figures from some of the largest players in the sector.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

Sources

The Infrastructure reports draw on an extensive network of primary sources, such as multilateral organisations, government departments, industry associations, chambers and company reports.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc