Who Will Rebuild Syria’s Ruins?
Shares of Turkish construction firms, particularly cement and steel producers, have surged in recent weeks as speculation grows about their potential role in Syria's reconstruction. Experts highlight that these companies are well-positioned to play a pivotal role in rebuilding the war-torn country after the eventual fall of the Bashar al-Assad regime.
Türkiye’s construction sector has garnered significant attention from major investors, thanks to its advanced capabilities and extensive experience in international projects.
The sector’s geographical proximity to Syria, robust transportation networks, and proven expertise in post-conflict reconstruction have made it an attractive investment target. Turkish firms have previously showcased their resilience and skill by working on projects in challenging environments like Iraq, Libya, Afghanistan, and Ukraine.
Key Industry Players
Among the standout names in the Turkish construction industry are Çimsa Çimento Sanayi ve Ticaret A.Ş., Erdemir Group, and Akçansa Çimento:
- Çimsa Çimento: A leading cement producer, Çimsa exports to over 60 countries and specializes in materials for large infrastructure projects. The company has played a vital role in rebuilding efforts across the Middle East, exporting 6-8 million tons of cement annually.
- Erdemir Group: Türkiye’s largest steel manufacturer, Erdemir supplies materials crucial for constructing bridges, buildings, and other infrastructure. In 2022, it exported over 7 million tons of steel, with a significant portion used in international projects in Iraq, Libya, and Syria.
- Akçansa Çimento: A joint venture with Germany’s HeidelbergCement, Akçansa is Türkiye’s leading cement producer and a prominent supplier for major projects in Iraq, Saudi Arabia, and Egypt. Known for its environmentally friendly practices, the company is also rebuilding over 500 kilometers of road infrastructure in Libya.
Government Backing and Future Prospects
The Turkish government supports these companies by offering incentives and subsidies for international projects. In Syria’s case, bilateral agreements could potentially grant Turkish contractors preferential access to reconstruction efforts. Analysts predict that the demand for cement and steel will surge in the coming months as Syria moves to rebuild its devastated infrastructure.
Beyond economic benefits, Türkiye’s involvement in Syria’s reconstruction is expected to strengthen its influence in the region while creating much-needed jobs domestically. For Türkiye, this represents both a strategic opportunity and a means to bolster its economy on the global stage.
