The construction industry can look forward to a more active second half of the year, bur 2011 is looking “grim” according to research company Pacifecon.Its latest report on the construction industry during June said that after a boost in state
The construction industry can look forward to a more active second half of the year, bur 2011 is looking “grim” according to research company Pacifecon.
Its latest report on the construction industry during June said that after a boost in state-funded projects, in the short-term it was looking more positive.
“Despite the widespread comment during the past month on the dearth of forthcoming new building and construction activity due to the fall in the number of new developments entering the pre-construction planning pipeline, the short-term scenario during the remainder of this year is not as grim as 2011 will be if confidence fails to return to the private sector in the absence of further government pump priming,” Pacifecon’s report said.
There were 16 new major projects announced in June, half of which were government funded. Of the 49 projects in or soon-to-be-in the process of tendering, only one-fifth and privately funded.
These include Transpower’s $100-300 million Pakuranga to Penrose cable, NZ Transport Agency’s $21.7 million Atiamuri Bridge near Taupo, the $25 million Homebush Wastewater Treatment Plant at Masterton and a $45.5 million start on upgrading Duendin City Council’s Municipal Chambers conference centre.
