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Viewing report
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Taiwan Infrastructure Report Q4 2011
Business Monitor International, Sep 2011, Pages: 74
BMI View:
Taiwan's construction sector continues to be animated by the strong number of projects in the pipeline. Although the industry's growth rate will ease to 3.1% in 2011, from a strong 10.9% in 2010, this is compared to a weak base contraction of 8.0% in 2009. Indeed, Taiwan continues to produce a large number of multibillion-dollar projects in both the transport and energy infrastructure subsectors. This is because the country remains committed to changing its electricity generation composition to boost energy security and improving transport links to support exports, the key sector driving economic growth. We therefore expect the construction sector to grow at a faster pace over the medium term, averaging real growth of 6.6% per annum between 2012 and 2015.
Key developments in recent months include:
- In August 2011, state-owned utility Taiwan Power Company was reported to have selected a Japanese-led consortium as the preferred bidder to develop a coal-based power facility worth more than JPY200bn (US$2.6bn) in Taiwan. According to the Nikkei Business daily, the consortium consists of Japan-based Mitsubishi Heavy Industries, Mitsubishi Corporation, and Taiwan-based CTCI Corporation. The project will involve the construction of three modern coal-fired generators with a combined capacity of 2,400 megawatts (MW). Should the contract be awarded to the consortium, it believes that it could supply the necessary plant equipment as early as Q315.
- In July 2011, the Interior Ministry's Construction and Planning Agency (CPA) shortlisted four firms to bid for four plots of land on which they will construct 4,300 low-cost housing units, according to CPA director-general Yeh Shih-wen. The selected firms are Farglory Land Development, Huang Hsiang Construction, Lih Pao Construction and Advancetek Enterprise. Each of the housing units, to be built near a planned mass rapid transit (MRT) station connecting the Taiwan Taoyuan International Airport and downtown Taipei, is estimated to cost TWD4.5-7.5mn (US$156,000-260,000). Construction work is likely to be completed by end-2012. The project is part of government efforts to ease soaring house prices in Taipei and New Taipei City.
- In June 2011, Taiwan-based developer Farglory Group was granted a construction licence by Taipei's Urban Design Review Committee for the long-delayed Taipei Dome stadium project. The Farglory Group has also secured funds for the TWD23bn (US$700mn) project and a TWD15.4bn (US$531mn) syndicated loan for the project already has a number of commercial banks as mandated lead arrangers. Construction on the project is now scheduled to begin in October 2011.
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