International Construction November podcast
12 November 2014
In this month’s news we discuss the fast-moving project to increase the capacity of the Suez Canal. The scheme was only announced in August, but two large contracts have already been awarded on this US$ 8.5 billion project.
In business news, we look at Caterpillar’s third quarter results, which showed an improvement in profits for the world’s largest construction equipment maker. However, the mining industry continues to drag on the numbers, and several key markets weakened compared to a year ago.
November’s News Report looks at data from the European International Contractors (EIC) trade association on the value of work done and new contract wins by European contractors working outside their national borders last year. Weak market conditions in Europe pulled revenues down overall, but there was growth in the Middle East and Africa among other areas.
Finally, this month’s regional report is on Russia and the CIS, where trade sanctions and political tensions are dragging down the construction industry. However, there are construction opportunities in Russia related to the 2018 FIFA World Cup.
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