Turkish construction holding Ronesans Holding announced the sale of business in the Russian Federation
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The Turkish construction and contracting holding Ronesans Holding announced that it has ceased operations in Russia. Over the past two years, the company has sold its regional business and redirected investments to other regions of the world, according to its financial statements.
According to press release holding, in May 2022 Ronesans sold its construction business in Russia, in June 2023 – its real estate business. “The group’s global presence now extends to various regions, including Turkey and the Netherlands, Germany and the CIS countries, with a growing emphasis on Kazakhstan and Turkmenistan,” the company said.
Ronesans added that after ceasing operations in Russia, the holding plans to enter new markets and expand its global presence. “The company is committed to investing in new markets and industries and leveraging its extensive experience in healthcare, energy transition and commercial construction,” the holding said.
Ronesans Holding is engaged in the construction of various projects, from housing to energy facilities and hospitals. In addition to Turkey, it operates in the CIS countries, Europe, the Middle East and North Africa. The holding has been operating in Russia since 1993, having implemented a number of large projects – in particular, in partnership with the Russian Direct Investment Fund.
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