The global oil and gas projects pipeline, as tracked by the Construction Intelligence Center (CIC), is worth US$4.0 trillion. The Americas accounts for the highest value with US$1.28 trillion, followed by Asia-Pacific with projects valuing US$1.23 trillion.
In Brazil, construction activity declined 5.3% y-o-y over the first quarter of 2017 (the latest data available at the time of writing), as measured by real gross value added. As with elsewhere in the Latin America region, ongoing economic and political weakness has exacerbated the deteriorating business environment, weak investor confidence and reduced construction activity.
Construction activity in Saudi Arabia remains sluggish, with only a marginal pick-up expected in 2018 following two years of contraction. The recovery will gain momentum in the following years, assuming that oil prices edge up and that political risks in the region do not greatly disrupt investment flows.
The Port of Tilbury, London, has submitted an application to the Planning Inspectorate to build a new terminal adjacent to the port in Thurrock as part of plans to meet the growing demand.
Stoosbahn funicular railway, touted to be the steepest in the world, has been opened for business in Switzerland.
The Stage 2 of the Gold Coast light rail line in the Australian state of Queensland has been officially opened to passengers ahead of schedule.
Dubai-based Omniyat has signed an AED500m ($136m) agreement with Ajman Bank for the construction of a mixed-use project at Dubai Water Canal in Business Bay.
Heathrow Airport has unveiled options for cutting the expenditure on a third runway expansion by £2.5bn.
New York Governor Andrew Cuomo and New Jersey Governor Chris Christie have announced commitments to fund 100% of their share of the Gateway Hudson Tunnel Project.
The Government of Victoria, Australia, has awarded contracts to build the biggest public transport project in the state’s history and equip it with modern signalling.
India’s Bharat Heavy Electricals Limited (BHEL) has won an order for setting up a 1,320MW Supercritical Thermal Power Project (TPP) in Tamil Nadu.
DEGES, a publicly owned project management company representing the Federal Republic of Germany, has appointed a consortium comprising BAM-PGGM and HABAU as preferred bidder for the project, Availability Model A10 / A24 AS Neuruppin to AD Pankow in Germany.
Work on the UAE pavilion for Expo 2020 began with a ground-breaking ceremony, marking a significant milestone in the UAE’s history to host one of the most-recognised exhibitions.
Siemens has signed contracts with state-owned General Electricity Company of Libya (GECOL) to expand power generation capacity by 1.3GW in the country.
Downer EDI, along with its joint venture partner Ausenco, has been awarded an engineering, procurement and construction (EPC) contract by OZ Minerals Carrapateena for work at the Carrapateena copper gold mine project in South Australia.
CPB Contractors, a CIMIC Group company, has secured a multibillion dollar contract to deliver the West Gate Tunnel in Victoria, Australia.
Italian infrastructure group Salini Impregilo has won four contracts worth $490m in Oman, Abu Dhabi and the US in the water and transportation sectors.
Construction has commenced on the new $160m Kennedy Park Energy, which is being developed by Australian energy company, Windlab.
A groundbreaking ceremony was held for a new building of the Tennessee State Library and Archives on Bicentennial Mall at the intersection of Sixth Avenue N and Jefferson Street.
The University of Bristol is set to build a £80m library on the Clifton campus as part of wider plans to remodel its precinct around Tyndall Avenue.