A new report from market intelligence company Timetric’s Construction Intelligence Center (CIC), has revealed plans for more than US$ 1 trillion in industrial sector projects in Asia. The leading light is India, which has schemes valued at US$ 411 billion.
The report also found significant levels of investment in China and Indonesia, which have plans for developments worth US$ 200 billion and US $124 billion respectively.
There were also positive results from other emerging markets including Vietnam, which recorded industrial buildings projects worth a total of US$ 56 billion.
Mining proved a core focus for Australia, as its metal and material processing plants produced projects valued at almost US$ 37 billion more than half the value of the sector.
The research group’s study found that of the US$ 1.08 trillion of industrial projects progressing in the 15 countries studied, the metal and material production plants sector is set to dominate with schemes worth US$ 446 billion, followed by manufacturing plants with US$ 314 billion.
Topping the list of the largest ventures within the report was the US$ 50 billion Vung Ang Economic Zone in Vietnam. This includes the major Ha-Tinh steel facility and Son Duong Port.
Neil Martin, manager of Timetric CIC, said, “ While the developed Asia-Pacific economies tend to invest more in industrial buildings, the less industrialised countries in the Asia Pacific region are exhibiting the highest growth in industrial construction from a low base.
“We estimate that countries like Vietnam, Indonesia, Mongolia and Turkmenistan are forecast for GDP growth of 6% or more by 2019. This is being manifested in investment in mineral extraction, processing or manufacturing to drive these developing economies.”