CYAN MAGENTA YELLOW BLACK RIGHT HAND PAGE 5 25 50 75 95 ENR • ISSUE: Month 00, 2005/ PAGE: 1 / Version: #1 Day, Month 00, 2005 0:00:00 PM The Top 225 International Contractors The Top 225 Global Contractors 2005 Rankings by 2004 Revenue August 22-29, 2005 ENR's Top 225 International Contractors is a comprehensive package of data and analy- sis. It contains the rankings by 2004 revenue of the Top 225 International Contractors based on non-home country revenue. The overview story and list is accompanied by tables show- ing what countries' contractors are dominating each region of the world. The Top 225 Global Contractors contains rankings by 2004 revenue of the Top 225 largest contractors based on both home country and non-home country revenue. Contents 1. Main overview and analysis story. 2. The Top 225 International Contractors List 3. The Top 225 Global Contractors List
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The Top 225 International ContractorsThe Top 225 Global Contractors
2005 Rankings by 2004 RevenueAugust 22-29, 2005
ENR's Top 225 International Contractors is a comprehensive package of data and analy-sis. It contains the rankings by 2004 revenue of the Top 225 International Contractors basedon non-home country revenue. The overview story and list is accompanied by tables show-ing what countries' contractors are dominating each region of the world. The Top 225 Global Contractors contains rankings by2004 revenue of the Top 225 largest contractors based on both home country and non-home country revenue.
Contents
1. Main overview and analysis story.2. The Top 225 International Contractors List 3. The Top 225 Global Contractors List
40 � ENR � August 22/29, 2005 enr.com
Top 225 Overview�
By Peter Reina and Gary J. Tulacz
Ian Tyler, CEO of the U.K.’s Bal-four Beatty Construction Ltd. re-ports “a lot of innovation” in pro-curement, particularly in the U.K.public sector. He welcomes the moreearly inclusion of contractors in pro-jects there, “and we are seeing it alsoin a few other places in Europe.”
One reason for the market growthis the growing interest in build-oper-ate-transfer (BOT) projects around theworld, says Simon Hipperson, presi-dent of Sweden’s Skanska BOT. TheU.K. still leads this sector, but thereis strong interest globally, notably inEastern Europe. In the U.S., themarket is “very, very rapidly emerg-ing,” he adds.
The size and growing financialstrength of a few large contractorshas many international contractorsconcerned about being shut out ofprojects by behemoths that use theirfinancial clout to secure BOT work.
While work seems to be plentiful,many contractors do not see a strongmove in the market. Globally, busi-ness is “pretty much unchanged fromlast year,” says Carlos Möller, head ofinternational work at Germany’s Bil-finger Berger Bau. Very large projects“are quite scarce [but] I don’t thinkyou can define a trend,” he says.
Potentially boosting business, inter-national funding agencies are shed-ding their former distaste for largeprojects, says Philippe Ratynski, chair-man of France’s Vinci Construction.“In the last two years, [funding] is com-ing back to infrastructure,” he says.
TThe big definitely are getting bigger in the interna-
tional construction market. As infrastructure needs
become more demanding around the globe, many
top international contractors have expanded their
roles to include developing and financing projects.
Increasing demands by publicclients have led international con-tractors to become not just entitiesthat build the project, but ones thatwill develop, plan and finance it, aswell. This trend has aided an expand-ing market, but it also means thatnewer or smaller international firmswill have to scramble to grow.
Overall, the international marketcontinues to grow. ENR’s Top 225International Contractors had com-bined revenue of $167.49 billionfrom projects outside their homecountries in 2004, up 19.8% over$139.82 billion in 2003.
Size Counts in Growing Market
The Top 225InternationalContractors
enr.com August 22/29, 2005 � ENR � 41
For example, some U.S. contractorslooked with concern when a consor-tium led by Spain’s CINTRA andFerrovial won the right to develop a316-mile portion of the Trans-TexasCorridor highway project.
Such financial/construction con-sortia have become more common inrecent years, and some firms are con-cerned. “Big construction companiesare becoming bigger and even over-sized and supported by the financialconsortiums,” says Lin Rongxin, pres-ident of China Civil Engineering Con-struction Corp. “Monopolization hasstrengthened in the internationalconstruction market in recent years.”
This trend has caused consterna-tion for international contractors thatare not prepared to bring deep pock-ets into the fray. “Southeast Asia isour most disappointing market,” saysVishwanath Banavali, deputy generalmanager for Hindustan ConstructionCo. He says his firm can bring highlevels of expertise and competitiveprices. But he says it is being shut outof some top jobs in the region thatare being let “mostly on BOT.”
Managing in Hot MarketsLike many large international firms,Germany’s Hochtief is focusing onmature markets, the U.S. and Aus-tralia in particular. Its goal is “flattercyclical fluctuations, lower risk andsteadier cash flow, which display sig-nificant growth while achieving highmargins over the long term and tyingup less capital,” says Chairman Hans-Peter Keitel.
Some firms have used the growingmarket to retool themselves and toregain their momentum. “We man-aged to recover from our severefinancial difficulties in early 2000with debt-equity swap and over-allrestructuring of the company,” saysDong-Jin Yeo, executive vice presi-dent of international business at Ko-rea’s Hyundai Engineering & Con-struction Co. “Since 2002, our fi-nancial situation has rapidly im-proved.” The firm also has improvedits credit rating. “With our financialhealth improving, we expect to bemore competitive in the global mar-ket,” he says.
Japan’s Kajima Corp., on the oth-er hand, has sharpened its focus bysplitting its international division intwo, says Masafumi Fukuyama, gen-eral manager of the overseas sub-sidiaries management division. Thedivision will “strategically manageour overseas subsidiaries’ operationsby analyzing international markettrends and allocating our human re-sources to where the market isstrong,” he says. The international
division will focus on larger infra-structure projects that may be be-yond the scope of local subsidiaries.
Looking geographically, “theAsian market is a little bit more diffi-
CanadaTotal Revenue: $5.0 billion +4.2%FIRMS COUNTRY % OF TOTAL $ MILLION
21 U.S. 70.0 3,470.9
3 FRANCE 18.5 916.0
4 SPAIN 7.1 353.4
1 U.K. 1.5 72.0
1 NORWAY 1.3 65.9
1 SWEDEN 0.9 45.5
5 OTHER 0.7 33.4
Middle EastTotal Revenue: $25.4 billion +54.8%FIRMS COUNTRY % OF TOTAL $ MILLION
20 U.S. 46.7 11,873.9
11 JAPAN 9.8 2,486.7
8 ITALY 7.8 1,970.3
7 FRANCE 6.8 1,738.6
1 GREECE 6.5 1,650.1
29 CHINA 4.1 1,034.1
48 OTHER 18.3 4,661.7
EuropeTotal Revenue: $60.3 billion +29.2%FIRMS COUNTRY % OF TOTAL $ MILLION
8 FRANCE 23.2 13,966.7
26 U.S. 16.3 9,850.7
1 AUSTRIA 9.7 5,833.6
1 SWEDEN 9.0 5,447.6
2 NETHERLANDS 7.7 4,619.0
5 U.K. 6.6 3,974.9
70 OTHER 27.5 16,573.3
AsiaTotal Revenue: $30.5 billion +16.7%FIRMS COUNTRY % OF TOTAL $ MILLION
18 JAPAN 24.2 7,384.5
5 GERMANY 23.6 7,188.4
43 CHINA 16.8 5,112.8
27 U.S 8.8 2,677.1
6 FRANCE 5.7 1,741.3
4 U.K. 5.1 1,556.4
44 OTHER 15.8 4,804.8
AfricaTotal Revenue: $14.3 billion +12.9%FIRMS COUNTRY % OF TOTAL $ MILLION
8 FRANCE 24.7 3,527.4
39 CHINA 14.7 2,106.8
19 U.S. 13.8 1,976.6
9 ITALY 9.1 1,294.1
9 JAPAN 5.4 778.0
4 GERMANY 5.0 715.1
44 OTHER 27.2 3,885.7
Latin America/CaribbeanTotal Revenue: $9.1 billion -1.7%FIRMS COUNTRY % OF TOTAL $ MILLION
35 U.S. 27.0 2,444.5
7 SPAIN 26.0 2,352.3
7 ITALY 17.3 1,562.3
3 BRAZIL 9.2 835.4
5 FRANCE 9.0 810.7
1 SWEDEN 2.6 232.6
38 OTHER 9.0 815.9
U.S.A.Total Revenue: $22.8 billion +0.0%FIRMS COUNTRY % OF TOTAL $ MILLION
4 GERMANY 32.0 7,295.6
1 SWEDEN 23.9 5,437.8
4 U.K. 14.5 3,299.0
5 FRANCE 13.0 2,968.0
12 JAPAN 7.4 1,697.0
1 NORWAY 1.7 380.1
25 OTHER 7.5 1,717.9
42 � ENR � August 22/29, 2005 enr.com
Top 225 Overview�
get a toehold, says Cote.
Middle East GusherThe recent spike in oil prices hasfueled a major construction boom inthe Middle East. “Current oil pricesare generating fantastic profits andliquidity that are reinvested in theregion in the form of infrastructure,tourism and other projects,” says Was-sim Merhebi, director of Lebanon-based Arabian Construction Co. Thishas caused firms to scramble to findqualified people in the region. “Thecycle time is moving so fast that train-ing new personnel has become a luxu-ry one cannot afford,” he says.
Much of the work is powered bythe petroleum market. “Currently,more opportunities lie in countries
for people to make their fortunes,”says Tyler. “We are looking at Chinavery, very carefully. It’s a high-riskmarket,” he adds. For building andinfrastructure work, Hong Kong is“rather depressed,” he says.
Australian infrastructure, howev-er, is booming, accounting for about25% of Bilfinger Berger’s sales.Möller sees transportation infrastruc-ture demand continuing for two tothree years. He notes that BilfingerBerger and Hochtief, between them,own five major subsidiaries in Aus-tralia and these firms are doing abouthalf the major projects down under.This has caused other major interna-tional contractors difficulties inentering the Australian market. Forexample, Bouygues is struggling to
cult,” says Möller. “There are nosigns of large projects despite eco-nomic recovery.” France’s Bouygues,however, is building a privatelyfinanced bridge in South Korea and islooking at a similar prospect atPusan, according to Michel Cote,Bouygues Construction’s deputyCEO. And Bouygues is preferredbidder for a port contract there.
Ratynski still sees “good opportu-nities” in China and is bidding forcivil work on a nuclear plant. Butconditions are “getting more and moredifficult,” says Cote. “They [propose]much more severe constraints forcontractors. There are very limitedprojects.”
Partly because of competition,China “is not really an obvious area
The 2005 Top 225 at a Glance
Market AnalysisREVENUE PERCENT
TYPE OF WORK $ MIL. OF TOTAL
BUILDING 41,565.7 24.8
MANUFACTURING 5,028.3 3.0
INDUSTRIAL 8,902.9 5.3
PETROLEUM 30,679.2 18.3
WATER 4,188.4 2.5
SEWER/WASTE 3,400.2 2.0
TRANSPORTATION 44,042.9 26.3
HAZARDOUS WASTE 668.3 0.4
POWER 10,130.2 6.0
TELECOMMUNICATIONS 1,951.6 1.2
OTHER 16,928.8 10.1
VolumeDOMESTIC INTERNATIONAL TOTAL
$ BIL. % CHG. $ BIL. % CHG. $ BIL. % CHG.
REVENUE 334.8 +13.4 167.5 +19.8 502.3 +15.5
NEW CONTRACTS 343.9 +10.4 166.4 +22.8 510.3 +14.1
ProfitabilityNUMBER OF FIRMS REPORTING AVERAGE % OF
PROFIT LOSS PROFIT LOSS
DOMESTIC 124 30 5.5 NA
INTERNATIONAL 152 15 7.6 NA
Professional StaffNUMBER OF FIRMS REPORTING AVERAGE % OF
DOMESTIC INT’L DOMESTIC INT’L
INCREASE 86 74 14.7 17.2
DECREASE 31 22 7.3 14.8
SAME 80 75 NA NA
BacklogNUMBER OF FIRMS REPORTING AVERAGE %
HIGHER 130 38.7
LOWER 132 16.6
SAME 36 NA
NA=NOT AVAILABLE
International RegionsNUMBER REVENUE PERCENTOF FIRMS $ MIL. OF TOTAL
CANADA 37 4,962.6 3.0
U.S. 52 22,795.4 13.6
LATIN AMERICA 80 7,399.0 4.4
CARIBBEAN ISLANDS 40 1,654.6 1.0
EUROPE 114 60,265.9 36.2
MIDDLE EAST 123 25,415.4 15.2
ASIA/AUSTRALIA 146 30,465.3 18.2
NORTH AFRICA 93 7,061.9 4.2
SOUTH/CENTRAL AFRICA 90 7,221.9 4.3
UNALLOCATED/OTHER 5 244.6 0.1
ny to a local company of the hostcountry,” he says. Lin says the influxof oil revenue into Nigeria has loos-ened up that market, allowing forincreased public spending.
But many firms worry that themarket now is being flooded withnew competitors. To Turkey’s Gama,the biggest concern is “hard compe-tition, presence of inexperiencedcompanies in the market, pressure touse local labor, corruption and latelyChinese companies entering the mar-ket with low prices,” says MehmetArtun, the firm’s deputy chairman.He says Gama has been using itsexpe-rience to win work, but now isworking on its engineering capabilityto be able to provide full engineer-ing-procurement-construction ser-vices, “especially for the projects inpower and cement industries.”
Moving EastIn Europe, emerging eastern marketsoffer substantial growth prospects,often at the expense of WesternEurope work. Many Western Euro-pean markets “have been disappoint-ing because Japanese manufacturersare shifting their production basesfrom the Western Europe to Centraland Eastern Europe,” says Fukuyamaof Kajima. He sees this as part of ageneral trend among manufacturingclients. “More Japanese and interna-tional companies will be buildingmanufacturing facilities abroad where
Fukuyama. It involves the final de-sign and construction of a 69-kmmetro light rail line. The project wasawarded May 29 to a consortium in-cluding Japan’s Mitsubishi, ObayashiCorp., Kajima and Turkey’s YapiMerkezi.
African AdventuresIn Africa, it’s “business as usual,” saysCote. But, unusually, Bouygues wonover $700 million of work through itssuccessful bid for the continent’s firsthigh-speed railroad in South Africa.Promises for more African interna-tional aid “could help” contractors,says Cote. But Bilfinger’s Möller isdoubtful. He is steering the firm in-creasingly into the African private sec-tor, notably in oil and gas.
Vinci’s local units are reportingnearly $400 million in African sales.But Ratynski complains of unevencompetition, particularly from Chi-nese contractors. Established firmsapply higher environmental and safetycriteria and employ more local people,he claims. “When you work with aChinese company, all the staff are Chi-nese...and so are the workers,” he adds.
Chinese firms disagree with thisassessment. China Civil EngineeringConstruction Corp. is movingtoward more localized participation,particularly in the African market,says Lin. “Our principle is to [utilize]localized management and transformour company from a foreign compa-
like Saudi Arabia, Kuwait, U.A.E.and Libya,” says Yeo of HyundaiE&C. His firm has been working onthe South Pars Gas Field Develop-ment in Iran since March 1999 andmost recently completed phases 4and 5 of the project, a $1.6-billionon-shore gas plant, in record time, henotes.
Hyundai is one of many large con-tractors finding huge projects in theMiddle East. Athens-based Consoli-dated Contractors International isworking in a joint venture with Tech-nip and Chiyoda on the QATARGASSuper Trains in Qatar, consisting oftwo trains, each with a capacity of 7.8million metric tons/year, notes SamerKhoury, executive vice president.The firm “is focusing 70% on the oiland gas sector,” he says. “With thisprice level, the oil companies will in-vest billions in the years to come bothin the upstream/downstream proj-ects.”
In the Middle East, Dubai standsout. “The amount of constructionjust defies belief,” says Tyler. AndQatar “is going to be a booming mar-ket for the next few years,” he adds.But competition is tough, says Cote.For example, a Turkish-Japaneseteam recently undercut a Europeanbid for the $3.5 billion Dubai metroby several hundred million dollars, henotes.
The Dubai metro project is one ofKajima’s biggest recent projects, says
44 � ENR � August 22/29, 2005 enr.com
Top 225 Overview�
CONTRACTOR NUMBER OF INT’L BILLINGS MIDDLE EAST ASIA AFRICA EUROPE U.S. CANADA LATIN AM./CARIB.NATIONALITY FIRMS $ MIL. % $ MIL. % $ MIL. % $ MIL. % $ MIL. % $ MIL. % $ MIL. % $ MIL. %AMERICAN 55 32,299.2 19.3 11,873.9 46.7 2,677.1 8.8 1,976.6 13.8 9,850.7 16.3 NA NA 3,476.4 70.1 2,444.5 27.0CANADIAN 4 294.3 0.2 27.9 0.1 25.5 0.1 0.5 0.0 17.4 0.0 223.0 1.0 NA NA 0.0 0.0EUROPEAN 56 99,672.4 59.6 7,224.3 28.4 11,644.5 38.2 7,129.5 49.9 46,375.7 77.0 20,461.0 89.8 1,483.8 29.9 5,353.6 59.1
they can find operational advantages,such as inexpensive labor cost,” hesays.
For some contractors working inEurope, the move east has had itsbenefits. “We doubled our size in twoyears,” says Ratynski. Vinci is focus-ing on Poland, Hungary and theCzech Republic, and is bidding inRussia.
Russia increasingly is looked at asa major market for many contractors.“Due to growing and stabilizingdynamic economy, there is moreinternational business flow to thiscountry every year,” says Taner Soy-ak, general director of Turkey’s SoyakConstruction. The firm has workedin Russia for 10 years for such inter-national clients as Coca-Cola, Pepsi,Nestle, Kraft-Jacobs, and Michelin,and Soyak sees no slowdown in themarket.
In Poland, Skanska sees largeinfrastructure needs and growing EU investment fueling opportunities.A Skanska team has become the preferred bidder for a Polish tollroad. And in the Czech Republic,
the firm’s sales, at about $1 bil-lion, grew 50% in the year to this March, says chief spokesman PeterGimbe.
For Turkey’s Enka, its biggest project is another major EasternEuropean highway. “We are under-taking the Romanian Motorway with a $2.5-billion contract,” in ajoint venture with Bechtel, says Fik-ret Guler, board member. The 415-km, four-lane highway has beencalled the biggest highway project inEurope. It is planned to be finished in2012.
Further west, “a little bit to our surprise, a lot of opportuni-ties have shown up in our neigh-boring countries,” notes Möller. “Wesee more...opportunities in Eu-rope than we have seen in past years.”
In the U.K., publicly financedbuilding projects are buoying con-struction, although infrastruc-ture work is less abundant, says Tyler. But with U.K. contractorschasing volume rather than mar-gins, “it’s difficult to make money,”
says Ratynski. Nevertheless, the U.K. “is the only open market inEurope.”
And European contractors arepuzzled by the workings of the Italianmarket. Bouygues, for example, triedto bid for the huge Messina Straitsbridge this year, but pulled out. Thescope of the contract was too big andthe design risks excessive, says Cote.“I decided it was impossible,” heexplains.
France, meanwhile, “is very good,”Cote says. Residential building isbooming, although infrastructurework is “less good.” However,Bouygues this year signed a $750-million toll road contract and is bid-ding to work on a planned nuclearpowerplant at Flamanville.
Following the 2002 collapse of Germany’s Phillip Holzmann AG,Walter Bau AG folded this year in the chronically depressed domesticmarket. But it is “possible to build successfully in Germany, as long as one refrains from entering what weconsider to be a totally nonsensicalprice war,” says Hochtief’s Keitel. �
48 � ENR � August 22/29, 2005
Top 225�
The Top InternationalContractors
TThe international contracting market is providing widespread prosper-ity for contractors from around the world. Overall, the ENR Top 225International Contractors, which are based in 39 different countries, sawtheir collective revenue from projects outside their home countries rise19.8% in 2004, to $167.5 billion. New contract volume, a sign of futuretrends, was up 22.8%, to $166.5 billion in 2004. And the good news waswell shared. Of the 193 firms that were on the Top 225 last year and thisyear, 139 enjoyed rising revenue, while only 54 declined.
The Top 225 International Contractors(Based on Contracting Revenue from Projects Outside Home Country)
NEW MARKETS (% OF 2004 INT’L REVENUE)RANK 2004 REVENUE ($ MIL.) CONTRACTS IN GEN. WATER SEWER./ INDUS./ HAZ. TELE-
2005 2004 FIRM INTERNATIONAL TOTAL 2004 ($ MIL.) BLDG. MFG. POWER SUPPLY WASTE PETRO. TRANSP. WASTE COMM.
August 22/29, 2005 � ENR � 49
HOW TO USE THE TABLES� COMPANIES are ranked according to construction revenue generated outside of eachcompany’s home country in 2004 in U.S. $ millions. Firms not ranked last year are des-ignated **. Some markets may not add up to 100% due to omission of “other” mis-cellaneous market category and rounding. NA=Not available. †=Includes revenue ofsubsidiaries, which now are listed on www.enr.com.� FIGURES Include prime contracts, shares of joint ventures, subcontracts, design-construct contracts and construction management “at-risk” contracts when a firm’srisks are similar to those of a general contractor. Figures also include the value ofinstalled equipment when a firm has prime responsibility for specifying and procuringit within the scope of a construction contract.� GENERAL BUILDING=commercial buildings, offices, stores, educational facilities,government buildings, hospitals, medical facilities, hotels, apartments, housing, etc.� MANUFACTURING=auto assembly, electronic assembly, textile plants.
� POWER=thermal and hydroelectric powerplants, waste-to-energy plants, transmis-sion lines, substations, cogeneration plants, etc.� WATER SUPPLY=dams, reservoirs, transmission pipelines, distribution mains, irriga-tion canals, desalination and drinking water treatment plants, pumping stations, etc.� SEWERAGE/SOLID WASTE=sanitary and storm sewers, treatment plants, pumpingplants, incinerators, industrial waste facilities, etc.� INDUSTRIAL PROCESS=pulp and paper mills, steel mills, nonferrous metal refineries,pharmaceutical plants, chemical plants, food and other processing plants, etc.� PETROLEUM=refineries, petrochemical plants, offshore facilities, pipelines, etc.� TRANSPORTATION=airports, bridges, roads, canals, locks, dredging, marine facilities,piers, railroads, tunnels, etc.� HAZARDOUS WASTE=chemical and nuclear waste treatment, asbestos and leadabatement, etc.
� TELECOMMUNICATIONS=Transmission lines & cabling, towers & antennae, Webhotels, etc.
The Top 225 International Contractors NEW MARKETS (% OF 2004 INT’L REVENUE)
RANK 2004 REVENUE ($ MIL.) CONTRACTS IN GEN. WATER SEWER./ INDUS./ HAZ. TELE-2005 2004 FIRM INTERNATIONAL TOTAL 2004 ($ MIL.) BLDG. MFG. POWER SUPPLY WASTE PETRO. TRANSP. WASTE COMM.
Where To Find The Top 225 International Contractors
AABB Lummus Global 61Grupo ACS 15Aecon Group Inc. 117Aker Kvaerner ASA 34Alberici Corp. 144Alarko Contracting Group 100AMEC plc 13American Bridge Co. 178The Arab Contractors (O.A.O & Co.) 88Arabian Construction Co. 87ARB Inc. 174Astaldi SpA 49The Austin Co. 191
BBalfour Beatty plc 24Royal BAM Groep nv 9Bauer Spezialtiefbau GmbH 86Baytur Construction and Contracting
Co. 179BE&K Inc. 199Bechtel 5The Beck Group 193Beijing Construction Eng’g Group Co. 181Beijing Municipal Engineering Group
Co. 176Beijing Uni-Construction Group
Co. Ltd. 183Beijing Urban Construction Group
Co. 212Bennett Construction 157William A. Berry & Son Inc. 182BESIX SA 51Bilfinger Berger AG 10Bird Construction Co. Ltd. 169Black & Veatch 97BOUYGUES 6Bovis Lend Lease 14
CCaddell Construction 141Construcoes e Comercio Camargo
Correa 203CB&I 41CCC Group Inc. 207CEGELEC 25Centex 59CH2M Hill Cos. Ltd. 94China CAMC Engineering Co. Ltd. 156China Chongqing Int’l Construction 195China Chongqing Int’l Corp. for
Eco. & Tech. Coop. 221China Civil Engineering Constr. Corp. 69China Electric Power Tech. Import &
Co. Ltd. 215China State Construction Eng’g Corp. 17China Wanbao Engineering Corp. 116China Wu Yi Corp. Ltd. 142China Zhongyuan Engineering Corp. 171Chiyoda Corp. 27Clough Ltd. 95Societa Italiana Per Condotte
D’Acqua SpA 140Conestoga-Rivers & Associates 225Consolidated Contractors Int’l Co. 18Construtora Andrade Gutierrez SA 82Construtora Norberto Odebrecht 21Contracting And Trading “C.A.T.”
Cos. 110C.M.C. di Ravenna 114CTCI Corp. 90
DEFDaewoo E&C Co. Ltd. 65Daewoo Engineering Co. 216Day & Zimmermann Group 180Descon Engineering Ltd. 147Dick Corp. 132Dogus Insaat Ve Ticaret AS 143Earth Tech Inc. 72Ebara Corp. 129EIFFAGE 22Energoprojekt Group 155Enka Construction & Industry
Co. Inc. 52The Facility Group 163FCC, Fomento de Constr. y Contratas 44Ferrovial 11FIMAG Finanz Industrie Mgmt. AG 8Fluor Corp. 12Foster Wheeler Ltd. 23
GHIGAMA 64Ghella SpA 106Glavbolgarstroy AD 165Graham Group Ltd. 128Grandi Lavori Fincosit SpA 168Granit Construction Stock Co. 127
Graycor 194Great Lakes Dredge & Dock Corp. 153Grinaker-LTA Ltd. 62Guangdong Xinguang Int’l Group 146Hanjin Heavy Ind. & Constr. Co. 151B.L. Harbert International 137Harbin Power Engineering Co. Ltd. 139Hazama Corp. 96Hazinedaroglu Construction Group 162Heberger Bau GmbH 125Heerema Fabrication Group 108Hensel Phelps Construction Co. 185Hindustan Construction Co. Ltd. 166HITT Contracting Inc. 217Hochtief AG 1Hyundai Engineering & Constr. Co. 31ICOM Engineering SpA 219IMPREGILO SpA 33Industrial Dev’t & Renovation
Org. of Iran 188Insituform Technologies Inc. 130Intecsa Uhde Industrial SA 145Italian-Thai Development PCL 133
Ltd. 37Kajima Corp. 20KBR 3Kharafi National 118Kiewit Corp. 80Kinden Corp. 109Kullman Industries. 159Kumagai Gumi Co. Ltd. 83Lease Crutcher Lewis 200Leighton Holdings Ltd. 46Limak Construction Industry &
Trade Inc. 202Long Jian Road & Bridge Ltd. Co. 218
MNOMaeda Corp. 76Manhattan Construction Co. 192McConnell Dowell Corp. 115Michels Corp. 223Morganti Group Inc. 111MWH 177National Petroleum Construction Co. 85NECSO Entrecanales Cubiertas SA 67Nishimatsu Construction Co. Ltd. 55Nova Group Inc. 222Nurol Construction and Trading Co. 113Obayashi Corp. 28Obrascon Huarte Lain SA (OHL SA) 43OPCA SA 206Orascom Construction Industries 63Orion Marine Group 214
PQRParsons 112PCL Construction Enterprises 26Penta-Ocean Construction Co. Ltd. 73Perini Corp. 77Petrofac Ltd. 38E. Pihl & Son AS 75Pomerleau 204Prezioso 120Quattrogemini Ltd. 93Rizzani de Eccher SpA 71
SSADE - CGTH 99Salini Costruttori SpA 119Samsung Corp. 60Samsung Engineering Co. Ltd. 53Santos CMI Construction Inc. 211SEI Engineering Inc. 172Shandong Electric Power Constr. 105Shanghai Constr. (Group) General Co. 68The Shaw Group Inc. 78Shimizu Corp. 42Sichuan Electric Power Imp. &
Exp. Corp. 213Sinohydro Corp. 81SK Engineering & Construction Co. 104Skanska AB 2SKE Group 79Snamprogetti 19Soares Da Costa - Grupo SGPS 91Solel Boneh International Ltd. 89SOLETANCHE BACHY 56Soyak Co. 170Ssangyong Engineering & Constr.
Co. 175STFA Construction Group 122Structure Tone Inc. 107Sumitomo Mitsui Construction
Co. Ltd. 98Summa Turizm Yatirimciligi AS 136
TTaikisha Ltd. 50Taisei Corp. 29Takenaka Corp. 36Techint Group 35TECHNIP 7Tecnicas Reunidas SA 57Tecnimont SpA 40Tekfen Construction & Installation
Co. 92Tetra Tech Inc. 205TIC Holdings Inc. 197TML Construction Co. 220Toda Corp. 138Torcon Inc. 160Toyo Engineering Corp. 30Tractebel Engineering 70Transtech Engineering Corp. 184TSO 189Turner Industries Group LLC 164Tutor-Saliba Corp. 152
UVWVECO Corp. 148Veidekke ASA 54VINCI 4Walbridge Aldinger 124Washington Group Int’l 45Weston Solutions Inc. 134Wharton-Smith Inc. 224WorleyParsons 66
XYZXinjiang Beixin Constr. & Eng’g
Co. Ltd. 210Yapi Merkezi Insaat ve Sanayi AS 135Zachry Construction Corp. 186Zhejiang Constr. Investment
HOW TO USE THE TABLES� COMPANIES are ranked on the Top Global Contractors list by their total 2004 con-struction contracting revenue, both at home and abroad. This differs from the TopInternational Contractors ranking (pp. 48-51, 54-55), which ranks firms based only onrevenue from projects outside of their home countries. Revenue is in U.S. $ millions.Firms not ranked last year are designated **. Markets may not add up to 100% due toomission of “other” miscellaneous market category and rounding.� FIGURES: Includes prime contracts, shares of joint ventures, subcontracts, design-construct contracts and construction management “at-risk” contracts when a firm’srisks are similar to those of a general contractor. Figures also include the value ofinstalled equipment when a firm has prime responsibility for specifying and procuringit within the scope of a construction contract.� GENERAL BUILDING=commercial buildings, offices, stores, educational facilities,government buildings, hospitals, medical facilities, hotels, apartments, housing, etc.� MANUFACTURING=auto assembly, electronic assembly, textile plants, etc.
� POWER=thermal and hydroelectric powerplants, waste-to-energy plants, transmis-sion lines, substations, cogeneration plants, etc.� WATER SUPPLY=dams, reservoirs, transmission pipelines, distribution mains, irriga-tion canals, desalination and drinking water treatment plants, pumping stations, etc.� SEWERAGE/SOLID WASTE=sanitary and storm sewers, treatment plants, pumpingplants, incinerators, industrial waste facilities, etc.� INDUSTRIAL PROCESS=pulp and paper mills, steel mills, nonferrous metal refiner-ies, pharmaceutical plants, chemical plants, food and other processing plants, etc.� PETROLEUM=refineries, petrochemical plants, offshore facilities, pipelines, etc.� TRANSPORTATION=airports, bridges, roads, canals, locks, dredging, marine facilities,piers, railroads, tunnels, etc.� HAZARDOUS WASTE=chemical and nuclear waste treatment, asbestos and leadabatement, etc.� TELECOMMUNICATIONS=transmission lines and cabling, towers and antennae, etc.
31 40 CHINA HARBOUR ENGINEERING CO., Beijing, China 4,429.7 925.2 5,580.3 1 14 0 1 0 0 18 0 0
32 26 SUMITOMO MITSUI CONSTRUCTION CO. LTD., Tokyo, Japan 4,329.0 207.0 4,329.0 65 4 0 2 3 4 18 0 0
AABB Lummus Global 180Grupo ACS 4Adolfson & Peterson Constr. 174Aecon Group Inc. 125Aker Kvaerner ASA 79Alberici Corp. 148The Alter Group 218AMEC plc 26American Infrastructure Inc. 214Ames Construction Inc. 177APAC 68The Arab Contractors (O.A.O & Co.) 88ARB Inc. 209Astaldi SpA 87Austin Industries 91
BBalfour Beatty plc 21Royal BAM Groep nv 19douglas e. barnhart 181Barton Malow Co. 105Bauer Spezialtiefbau GmbH 159BBL Construction Services 167BE&K Inc. 129Bechtel 5The Beck Group 135Beijing Construction Eng’g
Group Co. 59Beijing Municipal Engineering
Group Co. 134Beijing Uni-Construction Group
Co. Ltd. 99Beijing Urban Construction
Group Co. 78Bernards 221BESIX SA 95Bilfinger Berger AG 22Black & Veatch 166The Boldt Co. 183BOUYGUES 2Bovis Lend Lease 28Brasfield & Gorrie LLC 90Burns & McDonnell 191Thos. S. Byrne Ltd. 211
China Road & Bridge Corp. 48China State Construction Eng’g
Corp. 17Chiyoda Corp. 67Choate Construction Co. 223Clark Construction Group 50Clayco 208Clough Ltd. 158Societa Italiana Per Condotte
D’Acqua SpA 112Consolidated Contractors Int’l
Co. 62Construtora Andrade Gutierrez
SA 138Construtora Norberto Odebrecht 60C.M.C. di Ravenna 149CORE Construction Group 206CTCI Corp. 163
DEFDaewoo E&C Co. Ltd. 34James G. Davis Construction 188Day & Zimmermann Group 151Devcon Construction 175Dick Corp. 124P.J. Dick-Trumbull-Lindy 190DPR Construction 117Duke Construction 144J.E. Dunn Group 81Earth Tech Inc. 140Ebara Corp. 101EIFFAGE 16EMJ Corp. 194Enka Construction & Industry
Co. Inc. 128FCC, Fomento de Constr. y
Contratas 23Ferrovial 18FIMAG Finanz Industrie Mgmt. AG 20The Flintco Cos. Inc. 141Fluor Corp. 24Foster Wheeler Ltd. 71
GHIGAMA 160Gilbane Building Co. 57Graham Group Ltd. 205Grandi Lavori Fincosit SpA 156Granite Construction 64James N. Gray Co. 210Great Lakes Dredge & Dock Corp. 224Grinaker-LTA Ltd. 97Guangdong Xinguang Int’l Group 142Hanjin Heavy Industries &
Constr. Co. 104Hardin Construction Co. 178The Haskell Co. 153Hazama Corp. 72Hensel Phelps Construction Co. 66Hindustan Construction Co. Ltd. 220HITT Contracting Inc. 145Hoar Construction 217Hochtief AG 3Hoffman Corp. 171Holder Construction Co. 147HRH Construction LLC 168The Hubbard Group 189Hunt Construction 83
Ltd. 106W. M. Jordan Co. Inc. 212Kajima Corp. 8Kandenko Co. Ltd. 37KBR 12Kharafi National 207Kiewit Corp. 44Kinden Corp. 42Kitchell Corp. 187Kokosing Construction Co. 157Kraft Construction Co. Inc. 216Kraus-Anderson Constr. 161Kumagai Gumi Co. Ltd. 55The Lane Construction Corp. 126The Layton Cos. 185Leighton Holdings Ltd. 29
MNOMaeda Corp. 35Manhattan Construction Co. 118Marnell Corrao Associates 111Matrix Service Co. 143McCarthy Building Cos. 86McGough Cos. 197Messer Construction 199Michels Corp. 204M.A. Mortenson Co. 100National Petroleum Construction
Co. 155NECSO Entrecanales Cubiertas SA 43Nishimatsu Construction Co. Ltd. 36Nurol Construction and Trading
Co. 213Obayashi Corp. 10Obrascon Huarte Lain SA (OHL SA) 51O’Neil Industries Inc. 173OPCA SA 225Opus Group 121Orascom Construction Industries 139
PQRParsons 119PCL Construction Enterprises 58Penta-Ocean Construction Co. Ltd. 46Pepper Construction Group 122Perini Corp. 77Petrofac Ltd. 109E. Pihl & Son AS 133Pomerleau 172Power Construction Co. 170Rizzani de Eccher SpA 165RSEA Engineering Corp. 120Rudolph & Sletten Inc. 132Ryan Cos. US Inc. 186
SGrupo SACYR 52SADE - CGTH 89
Samsung Corp. 39Samsung Engineering Co. Ltd. 84SEI Engineering Inc. 215Shandong Electric Power Constr. 113Shanghai Constr. (Group) General
Co. 40The Shaw Group Inc. 63Shawmut Design and
Construction 184Shimizu Corp. 9Sinohydro Corp. 49SK Engineering & Construction Co. 61Skanska AB 6Snamprogetti 45Soares Da Costa - Grupo SGPS 137SOLETANCHE BACHY 115Ssangyong Engineering &
Constr. Co. 94The Stellar Group 200Structure Tone Inc. 65Suffolk Construction Co. 116Sumitomo Mitsui Construction
Co. Ltd. 32Sundt Construction Inc. 150Swinerton Inc. 75
TUVTaikisha Ltd. 76Taisei Corp. 7Takenaka Corp. 13Techint Group 93TECHNIP 25Tecnicas Reunidas SA 127Tecnimont SpA 108Teichert Construction 152Tekfen Construction & Installation
Co. 146TIC Holdings Inc. 98Toda Corp. 30Torcon Inc. 195Toyo Engineering Corp. 80Tractebel Engineering 201Turner Industries Group LLC 123Tutor-Saliba Corp. 154ValleyCrest Cos. 131VCC 192Veidekke ASA 82VINCI 1
WXYZWalbridge Aldinger 103The Walsh Group 69Walton Construction Co. LLC 196Washington Group Int’l 53Webcor Builders 92Weis Builders 193The Weitz Co. 110Whiting-Turner Contracting Co. 56F.A. Wilhelm Construction Co. 219Williams Brothers Construction 202WorleyParsons 176Howard S. Wright Construction 179Xinjiang Beixin Constr. & Eng’g
Co. Ltd. 222The Yates Cos. Inc. 85Zachry Construction Corp. 107Zhejiang Constr. Investment
Group Co. 73Ed. Zublin AG 70
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ENR SOURCEBOOKS – 2004Top 500 Design Firms Sourcebook – June 28Top 400 Contractors Sourcebook – September 27Top Owners Sourcebook – November 8Global Construction Sourcebook – December 2004
ENR TOP LISTS – 2003Top 500 Design Firms – April 21Top 400 Contractors – May 19Top 100 Construction Managers, Design-Builders, & Program Managers – June 16Top 200 Environmental Engineering Firms – June 2Top 200 International Design Firms – July 28Top 225 International Contractors – August 25Top 600 Specialty Contractors – October 20
ENR SOURCEBOOKS – 2003Top 500 Design Firms Sourcebook – June 2003Top 400 Contractors Sourcebook – September 2003Top Owners Sourcebook – November 10Construction Facts – November 2003Global Construction Sourcebook – January 5, 2004
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