Association of Turkish Construction Material Producers (Turkey IMSAD) reported on 6th February, 2023 that the effects of the earthquakes that caused great destruction in 11 provinces with the epicenter in Kahramanmaraş; It is stated that the reconstruction activities to be carried out in the region have created a cost of $ 46 billion, and this figure may increase with the clarification of the damage.
'February 2023 Sector Report' has been announced. According to the report, construction materials industrial production decreased by 3.4 percent in the last quarter compared to the last quarter of last year.
THE COST OF AN EARTHQUAKE MAY INCREASE
According to the report of the Association of Turkish Construction Material Producers, it was foreseen that $ 28.9 billion would be spent for the reconstruction of 550 thousand apartments that were demolished and could not be used due to heavy damage, and $ 5.6 billion for the infrastructure of these buildings.
$2.6 billion is expected to be spent on the repair and strengthening of moderately and slightly damaged housing, while $3.4 billion is expected to be spent on the construction and repair of commercial buildings and $2.5 billion on the construction and repair of public buildings.
Infrastructure repair and renovation requires $3 billion in spending, while reconstruction spending, calculated based on current damage in 11 provinces, is expected to reach $46 billion in total.
CONSTRUCTION MATERIALS CREATE ADDITIONAL DEMAND
According to IMSAD's report, targeted reconstruction activities in 11 provinces created a high additional demand for construction materials. In this context, it was stated that the use of construction materials in the domestic market may lead to a slowdown in exports.