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Poland Infrastructure Report Q4 2009Published by: Business Monitor International Published: Sep. 10, 2009 - 91 Pages Table of Contents
AbstractPoland’s infrastructure sector continues to be driven by preparations for the country’s co-hosting of theUEFA 2012 European Football Championships. However, the country will not be immune to the globaldecline in the construction industry and therefore in BMI’s Q309 Poland Infrastructure Report we areforecasting a contraction of 5.85% year-on-year (y-o-y) in 2009, to reach a value of PLN84.85bn(US$25.26bn).In BMI’s Q409 Poland Infrastructure Report we have revised our methodology. We are now using theGross Value Added measure of the construction industry as opposed to Gross Output as it is a moreaccurate measure and aligns better with the other countries that BMI covers, allowing Poland’sconstruction industry value to compare more accurately with other countries. As a result, the constructionindustry value appears far reduced as it now excludes intermediary products. Data from the CentralStatistics of Poland shows that in 2007, the nominal value of Poland’s industry measured as gross valueadded was PLN75.18bn (US$27.26bn). BMI is forecasting this to reach PLN84.85bn in 2009, a slightreduction on the 2008 estimated value of PLN88.03bn. The transport sector has continued to account for the majority of activity in Poland’s infrastructure sector,with road projects leading by far, followed by airports. The usual line up of construction companies havebenefitted from contracts in the road sector, including Strabag, Budimex, Mostostal Warszawa andSkanska. The largest contract to be awarded was to the A2 Strada consortium including Strabag andKulczyk Holding in June 2009. The EUR1.6bn contract is for the construction of a 106km section of theA2 motorway, linking Novi Tomysl and Sweicko. Funding of EUR1bn has been committed for theproject by the EIB. Another major event in the sector was the financial close for the Gdansk TransportCompany (GTC) consortium, led by Skanska and John Laing, for the second phase of construction ofthe A1 from Czerniewice to Nowe Marzy. Finally Budimex and Mostostal Warszawa signed aEUR441mn contract for construction of a section of the A1 from Pyrzowice and PiekaryIn the utilities sector, there was also activity. Big news came when it was reported that the country isplanning to sell stakes in a number of its power companies in order to raise state funds, and we expectthese to garner interest from all of the European majors. Full privatisations are being planned in 2010 fortwo of the country's largest power producers, Tauron Polska Energia SA and Energa SA, according toan interview with Deputy Treasury Minister Joanna Schmid cited in Bloomberg in July. It was alsorevealed that the government was planning to sell its remaining 76.5% stake in Enea, as well as issuingshares representing 15% of Polska Grupa Energetyczna SA (PGE), Poland's largest power company,possibly in 2010. Get Full Details About This Report >> |
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