The construction market in Asia Pacific is forecasted by GlobalData to grow by 3.7% in real terms in 2023, having grown by 3.9% in 2022. A key growth market will be the infrastructure market, with output rising by 11.9% 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.
Here are Asia Pacific’s five largest road infrastructure construction projects that were initiated in Q3 2023, according to GlobalData’s construction projects database.
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1. Jambi to Betung toll Road Development
The project involves the construction of a 169km road between Jambi and Betung in Indonesia.
Construction work started in Q3 2023 and is expected to be completed in Q4 2027.
The aim of the project is to enhance the transport infrastructure facilities, to reduce the traffic congestion and travel time between the two cities of Betung and Jambi. Buy the profile here.
2. Jiaxing Urban Expressway: Ring Road Phase III Stage II
The project involves the construction of a 7.10km Jiaxing Urban Expressway: Ring Road Phase III Stage II in Jiaxing, Zhejiang, China.
Construction work commenced in Q3 2023 and is expected to finish in Q4 2025.
The project aims to build an expressway to increase mobility and provide a smooth flow of traffic. Buy the profile here.
3. Baishan-Linjiang Highway
The project involves the construction of a highway in Jilin, China.
Construction work started in Q3 2023 and is forecast to complete in Q3 2027.
The purpose of the project is to reduce traffic, travel times and distances between various cities in Jilin. Buy the profile here.
4. Yangpu Shugang Expressway
The project involves the construction of the Yangpu Shugang Expressway in Hainan, China.
Construction work commenced in Q3 2023 and is expected to be completed in Q4 2027.
The purpose of the project is to expand the highway network and reduce traffic, travel time, and distance.
5. Qingtian-Wencheng Expressway: Wencheng Section
The project involves the construction of a 20.40km highway from Qingtian to Wencheng Expressway: Wencheng Section in Zhejiang, China.
Construction work started in Q3 2023 and is expected to be completed in Q4 2026.
The project aims to build an expressway to increase mobility and provide a smooth flow of traffic. Buy the profile here.
For more details on the latest construction projects, buy the profiles here.
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GlobalData’s Construction Projects database tracks over 220,000 new construction projects valued at >$25m from announcement to completion across all countries and sectors.
