2014-03-24 07:25:02 - Taiwan Infrastructure Report Q4 2013 - a new market research report on companiesandmarkets.com
The lack of growth in Q213 supports our view that the recovery in Taiwan´s construction activity could be mild. As such, we are maintaining our forecasts for construction real growth at 2.0% for 2013 and 2.9% for 2014. This is primarily due to our expectations of a steep economic slowdown in China, Taiwan´s main trading partner, over the near-term. Over the long-term, we expect Taiwan´s construction sector to outperform its 10-year historical average, though we remain concerned about the country´s demographic profile and its lack of progress in achieving greater innovation in the tech sector and greater economic integration with China.
Key developments that will affect growth include:
- In June 2013, the government of the Taiwanese city of Greater Kaohsiung outlined
the construction of the country´s first light rail transit (LRT) system project, worth TWD16.5bn (US$550mn), has started. The 22.1km LRT system is scheduled to be constructed in two phases:
The first 8.7km phase will pass through Kaohsiung´s Asia New Bay Area and Pier 2 Arts Centre to the Sizihwan District. The light rail project will be built by Spanish construction company Construcciones y Auxiliar de Ferrocarriles and Taiwanese company Evergreen Construction. The initial testing of the system is expected to have commenced by end-2014. The central government will provide a subsidy of TWD6.4bn (US$214.37mn) and the rest will be raised by local government. It will have a total of 14 stops upon its completion by the end of 2014.
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