Page 7 - Engilish 2015 Annual Report

MESSAGE FROM THE CHAIRMAN OF BOARD Our business development works aiming to enhance Nurol Makina, with its experience for 40 years, maintains

abroad activities are also proceeding intensively. its activities as a reliable contractor and solution
Besides our enterprises in Gulf Area, primarily in Saudi partner in defense industry. Nurol Makina, manufacturing
Arabia and Kuwait we also keep working in Sub-Saharan internationally wheeled armoured vehicle and special-
In 2015, the uncertainity in the markets has been Our group of companies, this year also, will focus on Africa, Bosnia Hersegovina, Maiedonya, Serbia, purpose platform, is accepted as one of the leading
persisted because of the improvement in global sustainable growth as well as to remain in the forefront Kazakhistan, Azerbaijan, Pakistan and Ukraine. companies with its unique design and projects.
economy not being as good as it was expected and also with our calibre by preserving our existing situation. While
because of the increasingly continuing jeopolitical risks. doing this, we aim to increase the productivity, take the Our domestic projects have also leapt forward in 2015. Our Nurol Technology Company is making unique design
The expectation about FED’s rising interest rates has costs under control as far as possible and to continue our Being one of the greatest infrastructural projects of and production in the field of ‘advanced technical materials’
been effective all year round. Another matter which permanence in the market. Turkey for the last years and being conducted by Turkish- which is the technology of 21 century in the modern full
st
intimidated the markets was the concerns about the Japanese Joint Venture, in which Nurol Construction is automation production facilities located in Ankara. As the
banking system and the expected recovery in Europe Our plan of action for 2016 includes to develop major one of the local partners, our MARMARAY Sub-Sea only source not only in our country but also in the region,
Tunnel Project has been come into use in October 2013
zone never being come true. Yet another threat was the projects in sectors with high added value by adopting a and the work is still being progressed within the frame our company develops convenient formulations due to
world trade never being revived. Besides the slow down cautious approach. We will continue to work for increasing of guarantee period. customer requirements and offer solutions for sectoral
in global trade due to China’s gear down and the our market share in the countries we operate. needs as well as operating successfully in rotor breaking
recession of the Chinese economy, the incoming news Ilısu Dam and HES project, with a 24 million m main bit, and in production and mining sectors with other
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show that growth might decrease further. Nurol Holding is currently carrying out activities mainly in dam filler and 1200 MW capacity which will allow mining bits besides defence goods.
construction and contracting sectors and in defense, producing 4.1 billion kWh energy annually has been
Within such a situation of a worldwide delicateness about manufacturing industry, real estate investment, energy, completed 80% by International Consortium led by As Nurol Family, we are conscious of our responsibilities.
growth, it seems that the central banks would be obliged to tourism, mining, finance, trade and service sectors with Nurol Construction at the end of 2015. In addition, the Our main aim as always is being the best by performing
realize both of their targets; growth and financial stability. more than 40 subsidiaries, affiliates, branch offices and construction works of Hasankeyf Group Highway our quality in the sectors in which we are active, creating
Bridges Project which have been taken under
project partnerships within the country and abroad. commitment with a tender, still continues. the highest social and economic values.
The basic determinant in domestic markets has been the
political developments. The prolonging uncertainty due to Nurol Holding, has been planning, coordinating and Being one of Turkey’s biggest infrastructural investments We have been trying to the best for a half century. While
elections and the re-appeared security concerns which were conducting its operations in line with the sustainable growth as ‘build, operate and transfer model’, Gebze-Orhangazi- moving further without concession neither any station is
out of the country’s agenda for a while, negatively affected aim parallel to the developments in economy and in the İzmir Highway’s (İzmit Gulf Suspension Bridge inclusive), an end for us nor any destination is sufficient. These points
the risk perception as to Turkey. The effect of the decrease in markets with a size of assets valued 9,2 billion TRY and a constructional works both for the parts of suspension are only the steps taking us further. We are proud of
the foreign trade deficit to the current account balance seems total equity of 1,6 billion TRY due to the legal financial bridge and highway continue in accordance with the representing Nurol Holding within the country and beyond
to be positive. Nevertheless, the foreign trade data signals statement dated as of 31 December 2015. plan. Our project, İzmit Gulf Suspension Bridge, includes the borders by being conscious of all obstacles we face in
not that good in regard to the economic growth. a total 427 km highway (43 km link road and 384 km today as in the past, are temporary and resolvable.
When we look at our companies, we can say that primarily highway) with a 1550 meters central span. With this
When it comes to inflation, we closed the year 2015, above the Nurol Construction has been operating both in Turkey and Project, it is assumed that nearly 53 km. highway Besides the business operations of our companies, we
between Gebze and Gemlik including İzmit Gulf
targeting, with a rate of 8.8%. For the year 2016, the inflation also in 15 different countries within a wide geographic Suspension Bridge will be opened to traffic as of mid also try to implement social projects providing social
targeting is around 5% again, although it seems to be difficult area including UAE, Saudi Arabia, Libya, Algeria, Morocco, 2016. Completed by Nurol Construction Company and benefit in many fields particularly education, culture, art
to realise. The decrease in the price of oil and goods may affect Katar, Georgia, Poland, Russia, Turkmenistan, Uzbekistan, linking the south pier of Osmangazi Bridge to the and sport under the guidance of Nurol Foundation.
the inflation positively this year also. However, the 30% increase Iraq and Afghanistan. highway, The South Access Viaduct, enables the vehicles
in minimum wage and the continuous rise in exchange rates coming from the viaduct to proceed with the highway by I believe/expect that we will work harder to perpetuate
seems to reflect negatively on inflation rates. Ranking in The List of the World’s Biggest International descending from 60 meters to 13. The travel time will our success by maintaining unity and solidarity. Hereby,
Contractors published by “Engineering News Record” reduce from the current 1-1.5 hours to 6 minutes when I want to extend my thanks to our society bringing us to
In the new period it is obvious that energy, construction, trade affiliated to McGraw Hill of USA, Nurol Construction’s the bridge is put into service. these days, our esteemed colleagues standing by in the
and especially tourism sectors will have many difficulties due working areas within the context of the reference With the completion of the Gebze-İzmir Highway Project, the development process, our partners, stakeholders and
to the tense atmosphere formed between Russia and Turkey in projects include infrastructure projects, land routes, travel time between İstanbul and İzmir will reduce to 3.5 hours. customers for their confidence and commitment. I wish
recent months, and to the concerns created by the rising terror highways, railway and metro systems, tunnels, gas/oil 2016 will bring peace and welfare for both our country
attacks. The upgoing issues in Southeastern Anatolia, the pipelines and related premises, watering/drainage In our Ordu Peripheral Road Project, 80% of the and the world.
situation of the refugees and the Syria crisis, all together create systems, dams and hydroelectric powerplants, water manufacturing has been completed as of 2015 and 20%
serious inconveniences in our region. supply and dirty water systems, urban/industrial budget increase has been provided by the administration. Best Regards,
treatment facilities and solid waste facilities, turnkey
While we were setting our budget under that projections production facilities and industrial complex projects, NGYO, besides its current portfolio, continues to be the
as of Nurol Group of Companies, we predicted 2016 industrial estates, business and trade center projects, center of interest especially with its brand projects
inflation rate as 7.65%, USD/TRY parity as 2.99 and EUR/ luxury/mass housing and community center projects, conducted in Istanbul. Works of the Nurol Tower Caglayan
TRY parity as 3.11 hotels, resorts and touristic facility projects. Project in Istanbul have been completed by year of 2016.
In addition, Nurol Life and Nurol Park projects as NGYO
investments in Istanbul are being conducted by Nurol Nurettin ÇARMIKLI
Construction. Chairman of Board

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