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France Infrastructure Report Q1 2011
Business Monitor International, Jan 2011, Pages: 98
France Infrastructure Report provides industry professionals and strategists, corporate analysts, infrastructure associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on France's infrastructure industry.
Following other EU developed states the French government is slowly moving from stimulus measures,to austerity measures, reducing public investment in infrastructure, as has already been seen in the UK,Spain and Portugal. However, alternative sources of financing, such as pension funds and infrastructurefocused private equity funds are now looking to the sector, providing the potential for private investmentto pick up where the governments are leaving off. BMI expects industry growth to improve with year onyear growth of 4.5% for 2011, as the sector reaches a value of EUR118.1bn.
Major recent developments include:
- In November 2010, French construction companies Bouygues, Eiffage and Vinci submittedfinal offers for the construction contract for a EUR3.4bn (US$4.6bn) high speed railway betweenLe Mans and Rennes in France, reported Reuters. The project will reduce travel time from Paristo Rennes to one hour 30 minutes from two hours via 214 km of newly constructed track. Therail line, of which 182km will be high speed, is due to be completed in 2014 or 2015.
- In October 2010, Sweden's state-owned power company Vattenfall bid for hydropowerconcessions in France in an auction expected to be held in 2011. France has an installed 25gigawatts (GW) hydropower capacity, with concessions for 5.3GW likely to be renewed in 2011.Vattenfall aims to obtain a significant share of the hydropower capacity in France, which will betendered until 2015.
- In October 2010, the European Investment Bank (EIB) loaned the Midi-Pyrénées region inFrance EUR300mn (US$409.7mn) to upgrade and develop the region's rail network. Theagreement is part of the Midi-Pyrénées Region's 2008-2013 Rail Plan – to create a permanentnetwork of 500km of rail lines to increase the frequency of services and cut journey times. TheMidi-Pyrénées Region is providing EUR400mn (US$546.3mn) for the plan. The project's totalcost is EUR820mn (US$1.1bn).
BMI expects the Residential and Non-residential Building Industry to be the main driver for growthaccounting for 70.1% of total construction industry value in 2011. This equates to EUR82.8bn. Thesector will expand by 2.4% year-on-year (y-o-y) thereafter until the end of the forecast period in 2015,when the Residential and Non-residential sector will be worth EUR95.7bn.
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