Hareket Project Transportation Develops Alternative to the Strait of Hormuz
The company traded on Borsa İstanbul capitalized on the wartime economy in the region, providing solutions to supply chain bottlenecks with new routes.
Hareket Project Transportation and Heavy Engineering, traded on Borsa İstanbul, capitalized on the wartime economy in the Middle East by developing alternative routes to the Strait of Hormuz, which remains closed due to conflict. Company CEO Abdullah Altunkum announced plans to invest $120 million by 2030 and aim to increase revenue to $300 million.
Alternative Routes for the Strait of Hormuz
The company provided solutions to supply chain bottlenecks caused by the conflict in the region through its field experience and engineering expertise. By utilizing alternative routes developed via the Port of Duqm in Oman, the Strait of Hormuz was bypassed, and industrial equipment was delivered to project sites via land routes.
Qatar and Regional Projects
Handling and assembly operations continue at existing facilities in Qatar. The company is preparing to support maintenance work on damaged facility units with its engineering team and its 2,200-ton lifting capacity crane, which is the largest in the region.
2030 Investment and Revenue Targets
Company CEO Abdullah Altunkum stated that they plan to invest $120 million by 2030. With these new investments, capacity will be expanded, targeting an increase in revenue from $138 million in 2025 to $300 million in 2030, with 75% of this revenue expected to come from international operations.
European and Syrian Markets
While operations continue in Europe through the Romania office and active projects, energy infrastructure in Bulgaria and Ukraine is being monitored. Additionally, the reconstruction of Syria is being evaluated among regional growth areas.