The construction market in Asia Pacific is forecasted by GlobalData to grow by 3.7% in real terms in 2024, having grown by 3.7% in 2023. A key growth market will be the infrastructure market, with output rising by 3.7% in real terms. GlobalData tracks and profiles all major construction projects from announcement to completion. For further insight on this market, buy the latest profiles here.
Driving growth in the market in 2022 and over the remainder of the decade are a potential 135 mega projects in Asia Pacific, costing over $100m each.Here are the five largest construction projects initiated in Asia Pacific during Q3 2024, according to GlobalData’s construction projects database.
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1. North East Link
The project involves the construction of an 11km freeway and an 18km upgrade of the existing Eastern Freeway in Victoria, Australia.
Construction work started in Q3 2024 and is expected to be completed in Q4 2028.
The tolled roadway between Melbourne’s Metropolitan Ring Road and the Eastern Freeway, or EastLink would carry 135,000 vehicles a day, providing quicker and easier access for freight operators, particularly between the growing industrial areas around Ringwood, Dandenong, Campbellfield, and the new freight hub near Donnybrook.
2. Shidaowan Nuclear Power Plant Expansion 4800 MW
The project involves the construction of a nuclear power plant with a capacity of 4,800MW in Rongcheng, Weihai, Shandong, China.
Construction work commenced in Q3 2024 and is expected to finish in Q4 2032.
3. Zhoushan High-End New Material Plant
The project involves the construction of a refining and chemical integration project in Daishan county, Zhoushan, Zhejiang, China.
Construction work started in Q3 2024 and is forecast to complete in Q3 2029.
The project aims to increase the plant’s capacity to meet the growing demand for oil and fuels in the region.
4. Shenzhen Jihe Expressway Expansion
The project involves the construction of a 41km highway in Guangdong, China.
Construction work commenced in Q3 2024 and is expected to be completed in Q4 2027.
The project aims to expand the highway network and reduce traffic, travel time and distance in the region.
5. Wuwei to Shaoxing ±800 kV UHV DC Transmission Line
The project involves the construction of a 2,370km ±800 kV UHV DC transmission line from Wuwei in Gansu to Shaoxing in Zhejiang, China.
Construction work started in Q3 2024 and is expected to be completed in Q4 2028.
For more details on the latest construction projects, buy the profiles here.
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