The state government of Victoria, Australia has allocated $1.46bn in 2016 state budget towards the completion of the Western Distributor project.With no funding from the Commonwealth Government, Victoria will undertake the $5.5bn project on its own.The project will provide a second river crossing connecting the West Gate Freeway with Citylink, cut travel times, reduce congestion and improve the living conditions in Geelong and Melbourne's West.The expected reduction in congestion in Melbourne's West will help lower the cost of doing business and enable workers to access job locations easily. It is anticipated that about 5,600 jobs will be created during the project's construction phase.Victoria Premier Daniel Andrews decision to set aside $1.46bn over four years to complete the project has been welcomed by the Victorian Chamber of Commerce and Industry, for whom the progression of the project is a priority.
The construction unit of Larsen & Toubro (L&T) has won contracts worth INR22.71bn ($343.1m) across its various businesses.L&T's buildings and factories business has secured a turnkey contract valued at INR15bn ($226.6m) to build a mixed-used development in New Delhi.The contract will include the construction of a convention centre, a business centre tower and two hotel towers as part of the overall development. L&T's scope of work will also involve civil, structural, architectural, mechanical, electrical, plumbing and finishing works.L&T has also won an INR4.5bn ($68m) contract for the expansion of Hyderabad's Air Force Academy. The project will include the extension of the main runway and parallel taxi track, widening of tracks, earth filling and allied works.The company’s power transmission and distribution business has secured new orders worth INR3.21bn ($48.4m) in both the domestic and international markets. On the domestic front, the company has received an EPC order for 765kV double circuit Bhuj Banaskanta transmission line (part-1) from Power Grid Corporation of India Limited, which is associated with Green Energy Corridor.In the overseas sector, L&T has won a contract from Electricity Generating Authority of Thailand (EGAT) for the engineering, procurement and construction of 500kV Transmission Line for Thai/Laos Border Crossing.
Global construction output will reach US$10 trillion by 2020, driven by Asia-Pacific and emerging markets, according to a new report from Timetric’s Construction Intelligence Center.The Global Construction Outlook 2020 report forecasts that expansion will increase by an annual average of 3.4% from 2015 to 2020, leading to the overall market value growing from $8.5tr to $10tr. In the previous five years annual average growth was 2.4%, with output increasing from the 2010 total of $7.5tr.Emerging markets will account for more than half of the global construction output in 2020, rising to 51.9% from its 43.9% share in 2010, despite the annual average rate of growth slowing to 4.2%, from 5.2% in 2011-2015.Growth in the Asia-Pacific region is set to slow, due in part to the slowdown in China’s construction sector, exacerbated by a glut of new residential property being completed. However, the region will still account for the largest share of the global construction industry, with South-East Asia investing heavily in new infrastructure projects funded by private investment.Western European markets will continue to recover, the report states, although investor confidence is fragile due to ongoing troubles in the Eurozone, and the crisis involving Russia and Ukraine. The German construction industry will remain slow, due partly to the government’s focus on austerity.
The analysts at Timetric's Construction Intelligence Center look forward to what the construction industry across the world can expect in 2016.
National markets across Europe are responding to current market conditions in varying ways. The team of analysts at Timetric's Construction Intelligence Center examine the current trends across the continent.
The University of Edinburgh has received a £200m loan from the European Investment Bank (EIB) for the development of its campuses.
High-rise urban housing projects have undergone a renaissance in recent times – despite many failed projects from the 20th century that became associated with poverty, the latest generation of structures are designed for luxury.
The number of projects and the technical capabilities used by the tunnelling market in Europe has strengthened and expanded over the past two decades. Keren Fallwell reports.
There’s no doubt that for the idea of the Northern Powerhouse to become a reality we need better infrastructure in the North, and we need it fast. But how do we build the schools, houses, hospitals, rail stations and other buildings we need across the region quicker and cheaper, without sacrificing quality? John Edwards at Atkins Group looks at solutions.
One critically important, but perhaps under discussed, area of the Northern Powerhouse is energy. In particular, where will it be generated, what technologies will be used now and in the future and how will it be decarbonised? And most importantly, how will it be distributed effectively and efficiently across the Northern Powerhouse. Paul Yates at Atkins Group discusses.
Given its ongoing investment in major infrastructure projects, it’s no surprise that health and safety remains a focus for contractors working throughout the Arabian Peninsula. And now governments across the region are looking for new and better ways to ensure that worker wellbeing remains a priority. Design, engineering and project management company Atkins Group assesses the situation.
Sydney’s current 235m height limit on buildings in the city should be overlooked to accommodate future population growth, architectural practice Bates Smart has proposed.
Developer Hammerson has announced that work on the £1bn Whitgift shopping centre redevelopment project in Croydon, London is now pushed back to 2017.
The recovery of the construction industry is being hampered in some regions, particularly developed markets, by a shortage of operators. But what are the causes, and what can be done to address the issue? Daniel Searle examines how the crane sector is addressing the issue.
After the Spanish housing construction market was severely damaged during the recession, the country’s crane manufacturers had to look abroad and expand their portfolios. Daniel Searle reports from Zaragoza.
A strong period for the UK construction industry is reflected in a growing crane rental market, with new projects and investments in fleet expansions taking place. Daniel Searle reports.
Real estate groups RocaPoint Partners and The Georgetown Company have broken ground on a new $370m mixed-use development in Georgia, US.
Bouygues UK has secured a contract from Bristol City Council to build the £90m ($129.7m) Bristol Arena next to Temple Meads railway station in Bristol, UK.
Big engineering and construction capital projects demand the use of sophisticated project management techniques as the basis for project planning and scheduling. Shane Forth, project management office director at Costain, shares his experiences.
CLS Holdings has received approval from Lambeth Council Planning Committee for the revised £400m Vauxhall Square mixed-use project in London.