All Construction Articles
The European Commission and the European Investment Bank (EIB) have set up a new financial instrument designed to increase private sector investment in the Trans-European Network (TEN) infrastructure schemes. The Loan Guarantee Instrument for Trans-European Transport Network Projects (LGTT) is designed to mitigate against the risk of low toll revenues in the first few years of projects’ operation.
A bribery scandal involving two civil servants is threatening to bring major road construction projects to a halt in Bulgaria. The European Commission has asked for funds to be frozen pending investigations.
International architect Skidmore Owings & Merrill (SOM) has unveiled designs for what it claims will be the world’s greenest office building, Energy +.
Netherlands-based Office for Metropolitan Architecture (OMA) has revealed the final design for a Science Centre and Aquarium for Hamburg, Germany’s Hafencity complex.
Vinci’s revenues rose +16,8% last year, compared to 2006 to a total of € 30,4 billion. The company says revenues grew more steeply outside France last year, with a +21,4% rise to € 10,7 billion. This was largely due to a string of acquisitions, including the purchase of Soletanche Bachy, Entrepose Contracting and Nukem by its Construction division.
Austrian construction giant Strabag SE has acquired Italian contractor Adanti for an undisclosed sum. Based in Bologna, Adanti was formerly owned by SECI, a holding company that controls international geotechnical engineering specialist Maccaferri Group.
Skanska has named Johan Karlström as its new president & CEO. The announcement coincided with the publication of the company’s 2007 annual results. The company saw revenues rise +10,5% last year to SEK 138 billion (€ 14,7 billion). Operating profits were up +13,5% to SEK 5,41 billion (€ 573 million).
Bilfinger Berger saw its net profit rise +46% in 2007 to € 134 million. Revenues were up +16% to € 9,22 billion – a new record for the company. Bilfinger Berger also says that its order book is the strongest it has ever been. Over the course of last year it received € 11,3 billion of orders - +13% more than 2006, driving its backlog to € 10,8 billion, +23% higher than it was at the end of 2006.
Mining giant Anglo American has postponed the sale of Tarmac, its UK-based quarrying business. The divestment is on hold until conditions improve in the global credit markets.
Holcim’s sales increased +12,7% last year to CHF 27,1 billion (€ 16,9 billion). The company’s net profit rose +57,2% to CHF 4,5 billion (€2,8 billion), although CHF 1,3 billion (€ 810 million) of this was attributable to the sale of a stake in its South African business.
Construction of the second bridge across the Danube river between Bulgaria and Romania will start in April this year, according to an announcement by Transport Minister Petar Moutafchiev, reports Bulgaria's Focus news agency.
Emaar Properties' Burj Dubai tower is four months behind schedule and may now not be finished by the end of this year as originally planned, the company said in a statement this week.
Australia’s construction industry continued to expand in February, despite a slow down in the rate of growth.
UK-based Zaha Hadid Architects has unveiled its winning design for the Lilium Tower in Warsaw, Poland.
The Asian Development Bank (ADB) is helping Mongolia to fund a road project which aims to link the nation's western region with China and Russia, the ADB said in a statement.