Russia leads investment in road and railway construction in Europe
According to a new report from Timetric’s Construction Intelligence Center (CIC), the total value of the road and railway construction projects pipeline in Europe stands at US$1.43 trillion.
Russia and the UK account for the largest shares, with project pipelines valued at US$343.9 billion and US$274.1 billion, respectively. Based on the projects tracked by the CIC, the railways sector has the highest value pipeline, at US$782.3 billion and the highest value project, the US$157.0 billion Moscow-Yekaterinburg High Speed Railway Line.
Some parts of Europe are underinvesting in road and rail infrastructure, and this particularly appears to be the case in Germany. The upgrade of transport infrastructure is split between central and local government and the German Federal government is known for exerting tight fiscal control. Germany’s projects in the sector as tracked by CIC amount to US$67.1 billion. However, France is continuing to invest substantially in railways, with its overall road and rail project pipeline having a value of US$259.5 billion. Turkey has prioritized transport infrastructure investment under the government’s Vision 2023 strategy to develop the country’s economy and meet the demands of the tourism industry and has a project pipeline of US$100.4 billion.
Neil Martin, Manager at Timetric’s CIC comments: “Europe is investing substantially in roads and railways as a means of stimulating the economies’ in the region and providing faster access to markets and improve communication. There are a number of large, high-value rail schemes which underpin this investment, particularly in Russia, The UK, France and Turkey, which will be a source of output and jobs for the coming years.
The EU has made available EUR24.05 billion from its 2014–2020 budget to fund transport projects under its trans-European transport network (TEN-T) strategy. It is clear that such stimulus is needed as Europe struggles to compete with growth regions of the world, particularly the Far East.”
Project Pipeline Value by Country and Type (US$ Million)
About this report
This information is taken from the Timetric report: ‘Road and Railway Construction Projects in Europe’. It is based on Timetric’s comprehensive CIC projects database which provides details on over 90,000 projects worldwide.
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Source: Company Press Release