Rönesans Holding expands its cooperation with Japanese companies

Rönesans Holding operates in the field of construction and investment in a wide geography including Africa, Central Asia and the Middle East, especially in Europe and Turkiye. The Holding, of which IFC (International Finance Corporation) / the private sector arm of the World Bank owns 4%, is 28th in the world and 9th in Europe in the ENR (Engineering News Record) ‘World’s Top 250 International Contractors’ list. Since 2015, it has maintained its place among the top 10 contracting companies in Europe.

The group carries out many high profile construction projects in Europe via its European subsidiaries, in the Netherlands, Germany, Switzerland and Austria. The Gotthard Base Tunnel, the longest railway tunnel in Europe, which was completed in 2016, and Gaasperdammertunnel in Amsterdam, the longest land tunnel in the Netherlands, are among such projects.

While providing an interview with Nikkei Asia, Japan’s leading finance and economics publication, Rönesans Holding President Dr. Erman Ilıcak announced that Rönesans is planning to expand its partnerships and cooperations with Japanese companies. He went on to say that within this framework, cooperation negotiations with Japanese companies continue for various projects with a total value of 3 billion dollars.

Rönesans Holding President Dr. Erman Ilıcak stated that existing partnerships and current negotiations with Japanese companies to establish new partnerships and collaborations are going exceptionally well: “We predict that our annual average revenue will reach 5 billion dollars in the forthcoming years. Potentially we can obtain more than approximately 1 billion dollars, corresponding to 20%of our annual revenue, from cooperating with Japanese companies in the Turkish, African, Balkan, and Central Asian markets.”

Bringing the Engineering-Procurement-Construction-Financing model to foreign markets

Ilıcak shared that Rönesans plans new projects with Japanese business partners in different geographies with the EPCF model (Engineering-Procurement-Construction-Financing). He highlighted that with this model, Rönesans could successfully bring the end- to-end business process to developing countries with strong Japanese business partners, increasing those countries’ capacity to implement infrastructure and social reinforcement projects.

In addition, Ilıcak announced various exciting current projects, including hospital construction and operation projects in Kazakhstan and Uzbekistan, a solar energy production facility in the Petrochemical Industry Zone in Ceyhan (Turkey) that produces green hydrogen, where investment is ongoing, and factories in various other countries that focus on the decarbonization of iron and steel. In addition, Ilıcak noted that they are making steady progress with Sojitz, their partner in the Başakşehir Çam and Sakura City Hospital in Istanbul, with various hospital investments abroad.

Rönesans Holding President Dr. Erman Ilıcak was awarded the highest state medal of Japan, ‘Order of the Rising Sun, Gold Rays with Neck Ribbon’ by the Emperor of Japan Naruhito for his substantial contributions to promoting economic exchanges between Japan and Turkey.

20% of Rönesans’ revenue will come from partnerships with Japanese companies

Ilıcak stated that Rönesans Holding continues its growth in international markets: “We predict our annual average revenue will be 5 billion dollars. We can make more than $1 billion, equivalent to 20% of our annual revenue, from cooperating with Japanese companies in the Turkish, African, Balkan, and Central Asian markets. By combining our extensive experience and knowledge, plus our outstanding workforce in these countries, with the financing and technology resources our Japanese partners provide, we have achieved exceptional results in engineering-procurement-construction-financing (EPCF) and public-private partnerships (PPP). With these cooperation, we are highly competitive over a wide geography.”

78% of Rönesans’ revenue comes from outside Turkey

Dr. Erman Ilıcak pointed out that as of the end of 2021, 42% of Rönesans Holding’s revenues came from the Commonwealth of the Independent States, 31% from Europe, 22% from Turkey, and 5% from other geographies.

In the news, Rönesans Holding, of which IFC / the private sector arm of the World Bank owns 4%, was mentioned as Turkey’s largest contracting company as well as 28th in the world and 9th in Europe in the ENR (Engineering News Record) ‘World’s Top 250 International Contractors’ list. It was also stated that Rönesans Holding has more than ten years of experience in partnership and cooperation with various Japanese companies and that a total of 4 billion dollars has accumulated from joint projects with Japanese companies to date.