The global construction market is forecasted by GlobalData to grow by 1.8% in real terms in 2023, having grown by 1.7% in 2022. While the residential construction market in many countries will decline, this will be offset by high growth in the infrastructure sector, with output rising by 8.3% 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 hydroelectric projects, costing over $100m each. Here are the largest steel mill construction projects initiated globally in Q1 2023, according to GlobalData’s construction projects database.
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1. Kadapa Steel Plant
The project involves the construction of a steel plant with a production capacity of 3MTPA on 1274ha of land at Kadapa district, Andhra Pradesh India.
Construction work started in Q1 2023 and is expected to be completed in Q4 2027.
The project aims to meet the growing demand for steel in the region. It will provide direct and indirect employment to about 25,000 people. Buy the profile here.
2. Whyalla Steel Manufacturing Plant Upgrade
The project involves the construction of an electric arc furnace with a production capacity of 500,000 tons per annum in Whyalla, South Australia, Australia.
Construction work commenced in Q1 2023 and is expected to finish in Q2 2025.
The project aims to increase the capacity from one million tons per annum to 1.5 million tons per annum, by using Q-One technology which allows direct feed from green power sources and also eliminates coal-based steelmaking while simultaneously increasing capacity. Buy the profile here.
3. Kadiana Khurd Steel Plant: Phase I
The project involves the construction of a long products steel plant comprising a scrap-based electric arc furnace (EAF) with a production capacity of 0.75 MTPA on 46.53ha of land in Ludhiana, Punjab, India.
Construction work started in Q1 2023 and is forecast to complete in Q4 2026.
The project aims to cater to the growing demand for steel in the country. Buy the profile here.
4. South Dakota Steel Manufacturing Complex
The project involves the construction of a manufacturing complex on 22.25ha of land in South Dakota, the US.
Construction work commenced in Q1 2023 and is expected to be completed in Q3 2024.
The project aims to produce seamless stainless steel precision tube to support customers in the region. Buy the profile here.
5. SFEL Forge Masters Development
The project involves the construction of a 13,934m2 forge press on 8.76ha of land in Sheffield, the UK.
Construction work started in Q1 2023 and is expected to be completed in Q4 2025.
The main aim of the project is to be at the forefront of the country’s steel industry and lay the foundations for potential future growth and safeguard a historic business for the growth in the region.
For more details on the latest construction projects, buy the profiles here.
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