Belgium Infrastructure Report Q2 2016
BMI View: Belgium is home to a diverse construction sector, and its position as a regional transport hubwith an open financial market means that industry fundamentals are strong. We forecast steady growth inBelgium's construction sector over the medium term, supported by a number of energy and transportprojects which are planned and under way. As a mature market, where public investment is restricted byongoing government austerity measures, there are relatively few large-scale public infrastructure projectsin the pipeline, leaving growth largely dependent upon the use of public-private partnerships and regionalfunding.Latest Updates And Structural Trends
The energy sector is one of the primary sources of growth in Belgium's construction sector due to thedevelopment of renewable energy. Plans are progressing on a number of offshore wind farms, includingthe Otary consortium's 309-megawatt Rentel wind farm. Contracts for the supply and installation of thewind turbines are due to be awarded in early 2016, and project financing to fund the EUR1.25bn isexpected to close in mid-2016.
Belgium's construction sector has gained some positive momentum over recent quarters. We have made aslight upwards revision to our short-term forecasts for construction industry value which is now forecastto grow by 2.9% in 2016, following 1.9% growth in 2015. Slower growth is expected over the remainderof the forecast period with construction industry value reaching EUR25.7bn in 2021 and EUR29.3bn in2025.
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