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Construction / Infrastructure in Europe
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Kazakhstan, Russia to implement projects worth $4B
KAZAKHSTAN, 2016/10/06 Kazakh National Economy Minister Kuandyk Bishimbayev and Russian Economic Development Minister Alexei Ulyukayev signed an action plan for 2016-2017 which envisages realization of 27 common investment projects in different spheres worth over $4 billion, Kazakh ministry reported. The action plan which is aimed at increasing the trade turnover between two nations was sighed within the Kazakh-Russian Forum of interregional cooperation held on Oct 4. in Astana. -
The bridge which currently connects Bosnia and Croatia in Gradiska
BOSNIA AND HERZEGOVINA, 2016/09/24 The long-delayed construction of the new bridge which will connect the city of Gradiska in Bosnia’s Republika Srpska entity to the Croatian municipality of Stara Gradiska across the River Sava will be discussed by the Bosnian and Croatian authorities at a conference organised by the European Investment Bank in Zagreb next week. "The conference will be organised on September 22 in Zagreb," Fadil Mandal, a spokesperson for the Bosnian Ministry of Transport and Communications, told BIRN in a written statement. -
Belgium to build 600MW power plant in Iran
BELGIUM, 2016/07/10 A Belgian company will build a new 600-megawatt combined cycle power plant near Tabriz city, northwest of Iran, Reza Hosseini, deputy chief of the Center for Investment Services of East Azerbaijan Province, said. The F class power plant will be built near Soufian power plant within 3-4 years, Hosseini said, IRNA news agency reported June 30. -
The construction sector will be needed to rebuild after recent flooding
UNITED KINGDOM, 2016/01/06 Britain’s construction sector bounced back in December and the country's builders are set to enjoy solid increase over the year ahead, in part because of the need to rebuild next widespread flooding this winter devastated a lot of parts of the country. A closely followed survey of the economic health of the UK's construction firms showed that the sector rebounded in December from November’s seven-month low. The puchasing managers' index compiled by Markit, which tracks business conditions, rose from 55.3 to 57.8, well ahead of the 56 figure analysts were expecting. Any number above 50 would imply that the sector grew in December. -
German construction sector study:
GERMANY, 2015/11/28 Introduction German construction sector: Boom years are over, confidence falling despite stable profitability and slight growth in gross production in 2015 - up 2% Public housing puts brake on stronger growth in the sector, private housing growing steadily – gap continues to widen Insolvencies in sector expected to fall by 3% in 2015; but construction sector still has second highest number of insolvencies nationally Property prices are a risk factor: purchasing power unable to keep pace with sharply rising prices. Text of the news The spirit of optimism that prevailed in Germany’s construction sector in recent years has largely disappeared and confidence in the sector is falling, according to Euler Hermes' study on the industry. During the boom from 2010 onward, German construction companies fared relatively well, particularly compared to their ailing European neighbors. Nevertheless, they had to lower their sights slightly in 2015, with growth in gross production at 2% vs 3% in 2014 and 5% on average between 2010 and 2013. The profitability of German construction firms remains stable however, and leverage is low. Insolvencies are expected to be slightly down in 2015. Nearly 17% of all bankruptcies in Germany occur in the construction sector – the second highest figure "After wholesale and retail, the construction sector suffers the highest number of insolvencies in Germany; nearly 17% of all bankruptcies happen to construction companies," said Ludovic Subran, chief economist at Euler Hermes Group. "In 2015, we expect the number of cases to fall by around 3% to approximately 3,900 insolvencies (2014: almost 4,000). This is good news, even though the level is still relatively high overall. German construction companies are faring better than their European counterparts however. In France we estimate that around a quarter of all corporate insolvencies are in the construction sector." Public housing putting brake on sector, much stronger growth in private sector The main drivers behind the relatively good position of Germany’s construction sector compared to the rest of Europe are private housing and robust demand in the property market. Euler Hermes' economists expect this trend to continue. "The brake on growth in the construction industry is clearly public housing," explained Thomas Krings, chief risk officer at Euler Hermes Germany. "Development is lagging way behind the private sector due to half-hearted infrastructure programs. For 2015, we anticipate 1% growth against 3% in private housing, which is increasingly the industry’s driving force. In 2010, both sectors were still on a par in terms of their order books – now there is a 60 percentage point gap between them, a trend which is being intensified by demographic developments. Urban growth is increasing: almost 10% in recent years. Net migration is also rising by around 13% per year based on current expectations or even more, given the current refugee figures. The knock-on effect of this will be an increase in demand for housing.” Widening gap between growth of disposable net incomes and that of property prices In addition to the wide gap between private and public housing, the unequal growth of sharply rising property prices and disposable net incomes is another risk factor for the future development of the sector. Euler Hermes believes this imbalance is set to continue in 2015 and 2016. "Between 2007 and 2014, property prices rose by nearly 5% a year," said Krings. "Admittedly we expect this to flatten out to around 4% over the next year, but with purchasing power up only 1.8% on average in 2015-2016, it has no chance of keeping pace. This is a risk factor for the sector, and we will keep a close eye on it, along with future interest rate movements and public investment." -
Construction output in the 19-country eurozone
EUROPEAN UNION, 2015/11/24 Construction output in the 19-country eurozone came in weaker in August next a rebound in the previous month, official data showed Monday. The seasonally-adjusted production in the construction sector fell by 0.2 % month-on-month in the euro area, said Eurostat, the statistics agency of the EU. The reading reversed a 0.4 % increase in July. The monthly decrease in construction output in the euro area was due to civil engineering activity falling by 0.3 % and building construction by 0.2 %, said the agency. -
Consortium from Spain signs agreement to build 20 projects in Guinea-Bissau
SPAIN, 2015/11/22 Spanish consortium “Ribert Investment & Business Trust/Indico PLC” will soon start construction of 801 low-cost houses in a suburb of Bissau, the capital of Guinea-Bissau, announced Roberto Mondejar, head of the business group. The construction of social housing is one of 20 projects that the consortium intends to run in Guinea-Bissau, under an agreement signed between the Government of Guinea-Bissau and Roberto Mondejar, who heads the group of Spanish businessmen who on Wednesday began a four-day visit to the country. -
Russia to establish industrial zone for Suez Canal in Egypt
EGYPT, 2015/08/30 Russia is still determined to establish an industrial zone, and lend Russian expertise to build a nuclear power plant in Egypt, President Vladimir Putin said in a joint press conference with President Abdel-Fattah al-Sisi in Moscow on Wednesday. "We discussed several economic topics related to bilateral trade such as admitting [Egyptian] local currency in trade dealings within the Eurasian Economic Union," Putin said. Putin said the two leaders as well discussed increasing wheat exports to Egypt, which is the major Russian wheat importer. -
TAP starts construction of access roads, bridges in Albania
ALBANIA, 2015/07/09 The Trans Adriatic Pipeline AG has today announced the start of construction and rehabilitation work on access roads and bridges along the pipeline’s route in Albania. The occasion was marked by an inauguration ceremony near the town of Çorovoda, attended by the Prime Minister of Albania, Edi Rama, Minister of Energy and Industry Damian Gjiknuri, and TAP Managing Director Ian Bradshaw. Speaking to an audience that included foreign diplomats, members of the Albanian parliament, representatives of local authorities and other key stakeholders, Prime Minister Rama and Minister Gjiknuri emphasised the importance of the project to Albania. -
Iran drops idea of gas supply to Europe via pipeline
IRAN, 2015/05/09 As hopes for a resolution of the nuclear dispute on Iran’s nuclear energy program are rising, the Islamic Republic is eyeing to enter the energy market, particularly Europe, which is in search of new energy resources. However, the country is not in favor of supplying Europe with natural gas via pipeline. A senior energy official has said Iran has removed the idea of pipeline transport of gas to Europe because of its waning economic price.
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