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Business Property

Aramco taps Turkish firms for $50 billion building spree

Aramco will soon draw up a list of contractors that can participate in tenders



“Aramco wants to see as many Turkish contractors as possible in its projects,” said a top official.
Image Credit: Reuters

Riyadh: Saudi Aramco met with an army of Turkish contractors this week to discuss $50 billion of potential projects in the Gulf kingdom.

Representatives of the state-controlled oil firm met executives from about 80 building companies in workshops in the Turkish capital Ankara on Tuesday and Wednesday, and are seeking to pre-qualify them for projects planned through 2025, Erdal Eren, head of the Turkish Contractors Association, said in a phone interview.

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“Aramco wants to see as many Turkish contractors as possible in its projects,” Eren said. “They are planning refinery, pipeline, management buildings and other infrastructure construction that will be worth $50 billion in investment.”

The company, the world’s third-most valuable after Apple and Microsoft, will soon draw up a list of contractors that can participate in tenders for the projects, he said, adding that the two sides will meet again soon in Saudi Arabia.

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Aramco declined to comment.

Turkish President Recep Tayyip Erdogan, who was reelected to a third term last week, has promised to prioritize reconstruction of about a dozen cities that were devastated by the quakes.

Erdogan and Saudi Crown Prince Mohammed Bin Salman agreed in June last year to boost economic and defense ties.

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