Key headlines from 2023 include Aramco JV’s $12.2bn refinery and petrochemical complex deal in China, Canada and Volkswagen’s $14bn contribution for EV battery gigafactory and Saudi Arabia’s $17.33bn development projects. World Construction Network wraps up the top 10 stories of the year:
GreenGo Energy to develop €8bn green energy park in Denmark
Go deeper with GlobalData
In January, GreenGo Energy collaborated with Ringkøbing-Skjern Municipality in Denmark to establish a 4GW green energy park with an investment of approximately $8.7bn. The project, called ‘Megaton’, is being built at the future Stovstrup 400kV substation in the east of Tarm in Ringkøbing-Skjern.
NHSRCL receives bids for underground tunnel construction for India’s bullet train
On 9 February 2023, the Indian National High-Speed Rail invited technical bids for constructing a 21km-long underground tunnel as part of the bullet train project. The tunnel will run from Kalyan Shilphata to Bandra Kurla Complex (BKC) of the 508.17km Mumbai-Ahmedabad High-Speed Rail Corridor. Afcons Infrastructure and Larsen & Toubro took part in this bid.
See Also:
Aramco JV to build refinery and petrochemical complex in China
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataIn March, Saudi Aramco together with its joint venture partners, including NORINCO and Panjin Xincheng Industrial, signed $12.2bn deal to build an oil refinery and petrochemical plant in northeast China.
Canada and Volkswagen commit over $14bn for EV battery gigafactory
On 24 April, the Canadian Federal Government and Volkswagen reportedly confirmed an investment of around $14.8bn to build a new battery gigafactory in St Thomas, Ontario. Construction of the new plant is expected to commence in 2024, creating roughly 3,000 jobs.
L&T secures construction orders for projects in India and Saudi Arabia
In May, Larsen & Toubro (L&T) announced that its Power Transmission & Distribution (PT&D) business secured engineering, procurement, and construction orders ranging from $302m to $603.6m. In Saudi Arabia, PT&D was tasked to build a 380kV substation as well as construct 380kV overhead power transmission lines that will connect different major cities on the Red Sea’s coast. PT&D secured an order for Revamped Reforms Based and Results-Linked Distribution Sector Scheme projects in India.
Skanska wins E10/rv 85 road project in Norway
On 20 June, Swedish construction company Skanska secured a $1.1bn design and construction contract from the Norwegian Public Roads Administration for the E10/rv 85 road in Northern Norway. Under this contract, the company is undertaking construction and maintenance of 82km of new and improved roads along with 22 bridges and seven tunnels.
Kenya to commence construction of railway line in 2025
In August 2023, Kenya confirmed that it is planning to start construction work on the $13.8bn high-speed electric railway project in 2025. The project, which is a part of the wider Lamu Port-South Sudan-Ethiopia Transport corridor plan, will connect Kenya’s Lamu port to South Sudan and Ethiopia.
Over $17.33bn projects announced at Cityscape Global in Saudi Arabia
In September, Saudi Arabia unveiled development projects of more than $17.33bn during the Cityscape Global Exhibition. It mainly included $11.2bn real estate projects launched by the National Housing Company, $1.6bn Boulevard Makkah project by Makkiyoon Urban Developers and a $2bn partnership between Saudi Arabia’s real estate developer Roshn and China Harbour to support SEDRA’s future projects.
PSMC and SBI to build new chip facility in Miyagi
In October, Taiwan’s Powerchip Semiconductor Manufacturing Corporation (PSMC) announced plans to build a new chip facility in Miyagi prefecture, Japan. The first phase of this facility is being constructed with an investment of around $2.6bn from PSMC and Japanese company SBI Holdings. The plant is expected to commence operations in 2026.
Converge launches Mix AI tool for construction sector
In December, British construction technology company Converge introduced a new predictive artificial intelligence (AI) based tool to promote the use of low-carbon construction practices. Known as Mix AI, this technology has been designed to help construction contractors in reducing concrete overdesign and carbon emissions.
