Hong Kong Infrastructure Report Q4 2010
Business Monitor International, October 2010, Pages: 71
The Hong Kong Infrastructure Report provides industry professionals and strategists, corporate analysts, infrastructure associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Hong Kong's infrastructure industry.
Hong Kong has weathered the financial crisis particularly well and now appears to be recovering strongly after what has been a decade of decline in the infrastructure sector. An increase in capital expenditure for infrastructure has been focused on the transportation sector as the Hong Kong government seeks to enhance its access to the mainland. Hong Kong's government has launched 10 major infrastructure projects in 2010, and the two largest projects are for transportation systems. The construction industry value for 2010 is forecast at US$6.6bn rising to US8.38bn by 2014.
Key developments contributing to forecasts included:
- New data for Hong Kong's construction industry indicate that the country's construction industry value in 2008 was higher than initially estimated, achieving a growth rate of 0.3% year-on-year (y-o-y) to reach HKD47.92bn (US$6.15bn). As a result, recovery for the construction industry occurred earlier than expected.
- After receiving support from the regional government and stakeholders for its 100 megawatt wind (MW) farm in south west Lamma, Hong Kong Electric (HKE) looks set to move ahead with a HKD3bn (US$385mn) wind power project. This represents a significant upside risk for the energy and utilities sector and is reflected in our forecast, with energy and utilities infrastructure value achieving an average y-o-y growth of 8% between 2010 and 2014, from HKD0.72bn (US$92.7mn) in 2010 to HKD1.26bn (US$162.2mn) [In the table the HKD values here are in EUR – which is right text or table?] in 2014.
- Gammon Construction, a civil engineering firm based in Hong Kong, and Leighton Asia, an Australian construction firm, were jointly awarded a HKD2.9bn (US$371mn) contract from Hong Kong's subway operator MTR Corporation (MTR) to build part of a high-speed rail line that will connect Hong Kong with Guangzhou, China. BMI believes that this project, which will connect Hong Kong to China's 16,000km national high-speed railway network, highlights that opportunities still exist for major international players in Hong Kong's mature infrastructure market.
Our outlook for Hong Kong's construction industry and infrastructure sector is for bullish growth in both sectors over the medium-term. For the moment stimulus plans continue to be a key driver of growth, however once the effects of the stimulus wane and projects enter the construction phase, growth is still expected to remain sustainable for the rest of our forecast period (2011-2014). The construction sector will reach an average growth of 4.4% y-o-y between 2011 and 2014, while growth for the infrastructure sector will slow to 6.5% y-o-y over the same period.
Executive Summary
SWOT Analysis
- Hong Kong Infrastructure SWOT
- Hong Kong Infrastructure Project Finance SWOT
- Hong Kong Economic SWOT
- Hong Kong Political SWOT
Market Overview
- Hong Kong
Industry Forecast Scenario
- Table: Construction And Infrastructure Industry Data
- Construction And Infrastructure Forecast Scenario
Transport Infrastructure
- Transport Infrastructure Overview
- Major Projects – New And Ongoing Projects
- Airports
- Ports
- Roads
- Railways
- Major Projects Table – Transport
- Table: Major Infrastructure Projects – Transport
Energy And Utilities Infrastructure
- Energy And Utilities Infrastructure Overview
- Major Projects – New And Ongoing Projects
- Power Plants
- Water
- Major Projects Table – Energy And Utilities
- Table: Major Infrastructure Projects – Energy And Utilities
Business Environment
- Hong Kong Business Environment
- Rewards
- Risks
Regional Overview
- Asia Pacific Infrastructure Business Environment Ratings
- Table: Asia Pacific Infrastructure Business Environment Ratings
- Project Finance Ratings
- Hong Kong Project Finance Ratings
- Design And Construction
- Commissioning And Operating
- Overall Project Finance Rating
Regional Overview
- Project Finance Ratings: Outlook For Asia Pacific
- Table: Design And Construction Rating
- Table: Commissioning And Operating Rating
- Table: Overall Project Finance Rating
Macroeconomic Outlook
- Table: Hong Kong – Economic Activity
Political Outlook
- Domestic Politics
- Long-Term Political Outlook
Company Monitor
- Cheung Kong Infrastructure (CKI) Holdings
- Table: CKI Global Portfolio
- CLP Power Hong Kong
Global Overview
- Core Views
- BMI's Core Views For Infrastructure Sector
Methodology
- New Infrastructure Data Sub-sectors: Methodology
- Infrastructure Forecasts: Methodology
- Sources
- Industry Forecasts
- Construction Industry
- Data Methodology
- Construction
- Capital Investment
- Construction Sector Employment
- Infrastructure Business Environment Rating
- Table: Infrastructure Business Environment Indicators
- Project Finance Ratings
- Table: Design And Construction Phase
- Table: Commissioning And Operating Phase – Commercial Construction
- Table: Commissioning And Operating Phase – Energy And Utilities
- Table: Commissioning And Operating Phase – Transport
- Sources
- Cheung Kong Infrastructure (CKI) Holdings
- Table: CKI Global Portfolio
- CLP Power Hong Kong
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