Roads to be a driving force of the Bulgarian construction market
According to the research company PMR’s latest report, entitled “Construction sector in Bulgaria 2012 – Development forecasts for 2012-2014”, the absorption rate of the programmes developed with EU funds has been increasing in the past two years, suggesting that road infrastructure development will become one of the most dynamic parts of the civil engineering market, which in 2011 was worth approx. BGN 5.7bn (€2.9bn) in total, up by 7% y-o-y.
The increased absorption and usage of EU funding for the development of the country’s road network led to a substantial increase in the number of projects in the pipeline, with the investments planned in road infrastructure development to note a significant yield for 2012-2014. The number of active road projects currently under construction is more than 30 and is scheduled to be finished in 2012-2013. As a result, Bulgaria’s road network will record significant change and a big increase in the length of operational motorways. It is estimated that projects in excess of €0.8bn are to be completed by the beginning of 2014. In addition, the value of projects planned for 2014-2020 period exceed €4bn.
Generally, it seems that the availability of EU funds and the increased capacity for absorbing such funding are likely to contribute towards a steady growth of the engineering sector in the following decade. Although priorities might change slightly over the course of the following eight years, it is believed that given the stable financial resources at its disposal, Bulgaria will continue developing projects in line with high priority trans-European corridors.
In the railway construction sector, the focus of development of the railway network will be in the Sofia-Plovdiv and Plovdiv-Bourgas railway sections, and the Sofia-Mezdra-Medtkovets. Railway infrastructure development in Bulgaria still lacks dynamics, although improvements in the past two years have been notable. A limited interest and general indifference towards the development of railway transport in its neighbouring countries certainly is compounding the situation in Bulgaria, although the intention to turn more to the trans-European corridors project might stimulate faster development in the next three years.
In the airport construction sector recent efforts to develop air transport infrastructure in Bulgaria have been focused mostly on the search for potential investors in concession procedures that will invest and develop three airports − Gorna Oryahovitsa, Plovdiv and Sofia. It seems that the concession is the preferred model for the airports' developments, as Varna and Bourgas airports are already given under concession to Fraport Twin Star, a German-Bulgarian consortium.
In the heavy industry, one of the major events in recent months noted in Bulgaria was the decision to abandon the Belene Nuclear Power Plant construction plans, announced by the government in late March 2012. Another major event will be the apparent race between the two major gas pipeline projects in order to determine which of the two is more likely to become reality the soonest – Nabucco or South Stream. Recent developments suggest that both pipeline projects are still valid and are heading towards realisation.
This press release is based on information contained in the latest PMR report entitled “Construction sector in Bulgaria 2012 − Development forecasts for 2012-2014” http://www.pmrpublications.com/product/Construction-sector-Bulgaria-2012.
For more information on the report please contact:
tel. /48/ 12 618 90 00
PMR (www.pmrcorporate.com) is a British-American company providing market information, advice and services to international businesses interested in Central and Eastern European countries as well as other emerging markets. PMR's key areas of operation include business publications (through PMR Publications), consultancy (through PMR Consulting) and market research (through PMR Research). Being present on the market since 1995, employing highly skilled staff, offering high international standards in projects and publications, providing one of most frequently visited and top-ranked websites, PMR is one of the largest companies of its type in the region.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Roads to be a driving force of the Bulgarian construction market here
News-ID: 225151 • Views: …
More Releases from PMR Ltd.
Polish road construction market to grow nearly 25% in 2011
Activity in Polish road construction will peak in 2011 and 2012. Driven by substantial capital expenditure by the General Directorate for National Roads and Motorways (GDDKiA), the value of roadwork will exceed PLN 30bn (€7.5bn) already in 2011. Delays in the implementation of projects related to Euro 2012 and sustained investments in local roads will prepare the road market for the anticipated period of reduced spending on the construction of
Construction industry in Romania expected to stabilise in 2011
Prior to the start of the crisis, the Romanian construction industry was one of the most vibrant in the European Union. This changed dramatically in 2009, when construction output fell by 15%, with a similar reduction following in 2010. The current year should finally lead to a measure of stabilisation on the market, but growth is not likely to return before 2012. Romania was the region's best performer in construction a
Pharmaceutical contract manufacturing and API sourcing: why not Central Europe?
At present, only a few companies based in Central Europe and the Balkans emphasise their contract manufacturing and API sourcing services. There is relatively strong competition from companies from the Far East and from Western Europe. On the other hand, the potential of the region seems to be considerable, with Poland and the Czech Republic still the most attractive locations, according to the latest report from PMR, a research and
Telecoms market in CIS region to reach €39bn in 2011
The CIS telecommunications market is recovering after the crisis period. In euro terms, the market closed 2010 with double-digit growth, chiefly due to the improvement of macroeconomic indicators and the gradual strengthening of local currencies. This year, the market is also expected to increase fuelled by further development of broadband services. Russia leading The telecommunications market in Russia is by far the largest among all CIS countries. Revenues generated only on the
More Releases for Bulgaria
Bulgaria Agriculture Market, Bulgaria Agriculture Industry, Bulgaria Agriculture …
Agriculture sector plays a crucial role in the Bulgarian economy. Agriculture includes hunting, forestry, and fishing, as well as cultivation of crops and livestock production. The agriculture sector has the potential to be a vital source of foreign exchange earnings and can also produce huge amount of quality food for domestic population. Most significant advantage of this sector is the presence of well-established food research & development institutions. Bulgaria enjoys tremendous
Study in Bulgaria In English
Over the most recent few years Bulgaria is consistently turning into an interesting area for youthful daring voyagers, Europeans anxious to migrate to a tranquil and inviting state with safeguarded nature, wonderful ocean, captivating mountains and to wrap things up amazingly moderate average cost for basic items. It is stunning how Bulgaria, the most established state in Europe, has figured out how to keep its name and domain for more than
Agrochemicals Market in Bulgaria
ReportsWorldwide has announced the addition of a new report title Bulgaria: Agrochemicals: Market Intelligence (2016-2021) to its growing collection of premium market research reports. The report “Bulgaria: Agrochemicals: Market Intelligence (2016-2021)” provides market intelligence on the different market segments, based on type, active ingredient, formulation, crop, and pest. Market size and forecast (2016-2021) has been provided in terms of both, value (000 USD) and volume (000 KG) in the report. A
SEO Conference 2013 Bulgaria
On March 22, over 400 people are expected to arrive at the Inter Expo Center Sofia in Bulgaria for the SEO Conference 2013. As noted on the SEO Conference Bulgaria – official site, the event, which will take place from 9 a.m. to 7 p.m., is the country’s main conference that focuses on search engine optimization and marketing. It is also an outstanding meeting place for customers, optimizers and representatives
CSA Celebrity Speakers Bulgaria brings Martin Lindstrom to the Third Marketing F …
Martin Lindstrom – nominated by TIME magazine among the 100 most influential thinkers of 2009 will have a key note speech at the Third Marketing Forum in Bulgaria, organized “Capital” business weekly. Martin Lindstrom is represented in Bulgaria by CSA Celebrity Speakers. Sofia, Bulgaria – Martin Lindstrom – named one of the best present day Branding gurus will participate with a key note speech at the Third Marketing Forum
Construction market in Bulgaria 2009
The economic slowdown, a less substantial inflow of foreign capital, limitations on mortgage lending and a weaker economic climate among construction companies will cause the construction market in Bulgaria to start to decelerate in 2009. Civil engineering, which will continue to grow slightly in 2009, will not fully redress the decline in residential and non-residential construction. After impressive growth between 2005 and 2007, in H2 2008 the construction market in Bulgaria