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The US Construction industry ranks # 1 in world for Construction Labor Productivity out of the 200+ countries around the world.
Vietnam is experiencing a construction “boom” in its economy and its overall construction sector continues to outpace its Southeast Asian neighbors.
We Are Seeing a New Trend of Constructing Smaller “Modularized / Fast Track” 10,000 to 30,000 Barrel a Day Oil Refinery Projects Around the World.
Forecasts suggest that $150 billion will be spent on new Hydrogen (H2) related EPC Capital Projects around the world in the next 5 years!
Over the years, numerous papers, studies, and publications have been written on this important subject. Construction productivity is unfortunately well below other industry standards. Why is this, and how can construction productivity be improved?
A number of major US-based automakers have committed billions of dollars in new CAPEX project funds in the last 12 to 24 months. These new projects will employ 1,000s of construction workers in the next couple of years: The following chart provides historical EPC benchmarks of some of these facilities:
India is experiencing a construction boom and is forecast to see annual growth in its construction sector of 8% to 11% in 2023 and 2024. Ten years ago, the majority of major US & European industrial / manufacturing companies were directing their CAPEX capital investments into China. However, with all the recent political posturing, territorial disputes, and COVID-related shutdown issues, China has experienced a slowdown in capital investment
New & Refurbished Railroad Cost Benchmarks per mile & Km, includes Traffic Control Systems, Detailed Design / Construction Management costs
The US & Western Europe have been striving to reduce their dependence on Russian gas while the war in Ukraine continues for more than 9 months. There is a renewed consensus to construct additional nuclear power plants in the US to satisfy current and future energy needs in the midst of the ongoing natural gas crisis.
It’s no surprise that Global Construction Prices have increased substantially in the past 18 months! Sky-high inflation, fuel price spikes, supply chain problems & the ongoing Ukraine conflict have created a perfect storm, driving up international construction costs. Compass International has researched and compiled this report on the TOP 20 most expensive cities to carry out construction projects.