2013-01-08 14:02:49 - New Construction research report from Business Monitor International is now available from Fast Market Research
BMI View: While Estonia's Infrastructure sector is on a much slower growth path in the wake of Eurozone retrenchment there are nonetheless strong fundamentals for the sector. The construction industry value is expected to reach US$1.2bn for 2012 based on a year-on-year (y-o-y) growth rate of 0.67%. This growth will continue over the forecast period with industry value nearly doubling to US$2.2bn by 2021.
Key developments in 2012 included:
* Legislation passed on June 6, 2012 requiring the country's main natural gas company to unbundle transportation infrastructure, further affirms our view that tensions between the Baltic states and Russia will remain a key theme of this decade. While we do not expect this issue to exacerbate tensions between Estonia and Russia, we
continue to expect relations between the two nations to remain strained over our forecast period. * The European Investment Bank (EIB) announced that it had agreed loans worth EUR95mn (US$124mn) with Estonian energy company Eesti Energy. These were to be used to finance the construction of a new power plant and two wind parks. A EUR50mn (US$65mn) loan will finance the construction of a plant at Iru, which will convert waste material into energy; the plant is located at the site of a former power plant, which will reduce construction costs. The energy produced will reduce Estonia's dependency upon imported gas, as well as its use of landfill sites. The EIB has also agreed a EUR45mn (US$59mn) loan to finance the creation of two new wind parks at Narva and Paldiski, which will produce 39MW and 22MW of power respectively, and help Estonia to meet its EU requirements on renewable energy production by the 2020 deadline. * Nordic Investment Bank announced that it will provide a EUR15mn (US$19.83mn) loan to Estonian power transmission operator Elering. The loan will enable Elering to construct a new 330kV transmission line between Tartu, Viljandi and Sindi, thereby connecting the south-east and south-west regions of the country. The line will improve the supply of electricity and allow the connection of proposed new wind parks to the grid. Construction of the line is scheduled for completion by 2014. * Estonia's government invested a 22% stake in the construction of a nuclear power plant in neighbouring Lithuania in partnership with Hitachi-GE Nuclear Energy. The plant is expected to be equipped with a 1,350MW advanced boiling water reactor and requires an estimated investment of EUR6.8bn (US$8.84bn). The project will be funded through the borrowing of nearly EUR4bn (US$5.2bn), while the remaining amount will be provided by Hitachi. The plant is scheduled to become operational between 2020 and 2022.
Full Report Details at
- www.fastmr.com/prod/523891_estonia_infrastructure_report_2013.as ..
Growth in Estonia's construction industry is forecast to average 5.6% between 2015-2021, well below the 7.6% from 2001-2007. That said, we stress that the worst effects of the 2008-2010 recession are now passed and the economy is well positioned for sustainable long-term growth.
Moderation in external demand will see to it that net exports poses a drag on growth while the high degree of uncertainty surrounding the future trajectory of the eurozone crisis will feed through to lower consumer spending and weaker investment spending in 2013.
Partial Table of Contents:
BMI Industry View
- Estonia Infrastructure Industry SWOT
- Competitive Landscape
- Table: Cement Price / Volume, % Variance (6M11/6M12)
Industry Forecast Scenario
- Table: Estonia Construction And Infrastructure Industry Data, 2010-2016
- Table: Estonia Construction And Infrastructure Long Term Forecasts, 2015-2021
- Construction And Infrastructure Forecast Scenario
- Table: Estonia Transport Infrastructure Industry Data, 2010-2016
- Table: Estonia Transport Infrastructure Long Term Forecasts, 2015-2021
- Transport Infrastructure Outlook and Overview
- Major Projects Table - Transport
- Table: Major Projects - Transport
Energy And Utilities Infrastructure
- Table: Estonia Energy and Utilities Infrastructure Industry Data, 2010-2016
- Table: Estonia Energy and Utilities Infrastructure Long Term Forecasts, 2015-2021
- Energy and Utilities Infrastructure Outlook and Overview
- Major Projects Table - Energy And Utilities
- Table: Major Projects - Energy and Utilities
Residential/Non- Residential Construction and Social Infrastructure
- Table: Estonia Residential and Non-residential Building Industry Data, 2010-2016
- Table: Estonia Residential and Non-residential Building Long Term Forecast, 2015-2021
- Residential/Non-Residential Construction Forecast Scenario
- Estonia's Risk/Rewards Ratings
- Regional Overview
- Central and Eastern Europe Infrastructure Risk/Reward Ratings
- Table: CEE Infrastructure Risk/Reward Ratings, Scores out of 100
- Industry Forecasts
- Construction Industry
- Data Methodology
- New Infrastructure Data Sub-sectors
- Capital Investment
- Construction Sector Employment
- Infrastructure Business Environment Rating
- Table: Infrastructure Business Environment Indicators
- Project Finance Ratings
- Table: Design And Construction Phase
- Table: Commissioning And Operating Phase - Commercial Construction
- Table: Commissioning And Operating Phase - Energy And Utilities
Full Table of Contents is available at:
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