Public investment in infrastructure to drive construction growth in Mexico
Mexico’s construction industry is expected to post healthy growth, supported by public investment in infrastructure, according to a report by Timetric's Construction Intelligence Center (CIC).
According to the report, the expansion in the country’s construction industry will be driven by investments in infrastructure, and energy and utilities construction projects. The government’s focus on the development of transport infrastructure is expected to add pace to the industry’s growth. Efforts to boost renewable energy production are expected to drive funding towards the construction industry over the forecast period.
In real terms, the industry’s output value is anticipated to post annual average growth of 3.8% in real terms over the forecast-period (2016-2020), an uptick from the 0.5% recorded witnessed during the review period (2011–2015).
Over the forecast period, infrastructure construction is expected to be supported by the government’s initiative to modernize the country’s transport infrastructure. The administration of President Enrique Peña Nieto has expressed its commitment to deliver better infrastructure so as to support the economy's growth and improve opportunities for citizens. Under the NIP 2014–2018, the government is looking to invest MXN7.8 trillion (US$591 billion) to be distributed across a number projects in the sectors of transportation, telecommunication, urban development, energy, water, health, and tourism.
The Mexican government is increasingly viewing privatization as a means to support infrastructure investments. In April 2016, the Transport and Communications Ministry announced that road infrastructure projects worth MXN199.4 billion (US$11.1 billion) would be undertaken by the private sector. These projects include the construction of the 31km-long Tepic-San Blas highway, Las Varas-Puerto Vallarta highway and he Viaducto La Raza-Indios Verdes-Santa Clara project.
About this report
This information is taken from the Timetric report: ‘Construction in Colombia: Key Trends and Opportunities to 2020'.
For more information visit: https://www.timetricreports.com/search/construction/“
CIC clients can access the report here: http://www.construction-ic.com/Reports/TableOfContents/construction-in-mexico-key-trends-and-opportunities-to-2020
About the Construction Intelligence Center
The Construction Intelligence Center (CIC) is the most comprehensive source of data and analysis on the global construction industry. The Construction Intelligence Center is a product of Timetric, which provides information solutions and technologies that enable organizations to drive business value and manage business risk.
For more information and updates, please visit www.construction-ic.com.
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Source: Company Press Release