Boston, MA -- (ReleaseWire) -- 06/24/2014 -- We currently forecast Oman's construction industry growth to reach 6.4% and peak at 6.7% in 2015. This is on the back of robust growth estimated in 2013 and a strong project pipeline, particularly in the transport infrastructure sector. The government's USD78bn five-year (2011-2015) spending plan is a major part of this view, along with investment associated with a burgeoning tourism industry. Although weaker than the double-digit growth seen in the last decade, we expect strong growth by an average of 4.8% in the next ten years. However, a potential downside to our forecast over the longer term is slower economic growth derived from declining oil revenues, which could undermine the government's ambitious infrastructure spending plans.
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Key Trends And Developments
- The government's five-year spending plan (2011-2015) includes OMR30bn (USD78bn) of expenditure, the majority of which will be allocated to social and transport infrastructure. In addition, the government announced in October 2013 that the country will spend over USD50bn in infrastructure projects in the next 15 years. From this budget, USD20bn is earmarked for the transport sector - including Oman National Railway - which is where we see the strongest pipeline of projects.
- A total of 102 civil and engineering construction firms from across the globe expressed interest in a prequalification process launched by Oman Rail for its main Railway Systems package.
- Additionally, 47 local and international firms have collected documents related to the prequalification of bidders for the key Civil Infrastructure and Railway Track Design & Build Contracting Services Package (Main Contractor) of the Oman Rail project. The massive international interest highlights eagerness among contractors and vendors to secure contracts linked to the implementation of the sultanate's multi-billion railway project.
- In November 2013, Austrian construction company Strabag secured a USD120mn contract from Oman's...
The Oman Infrastructure Report features Business Monitor International (BMI)'s market assessment and forecasts covering public procurement and spending on all major infrastructure and construction projects, including transportation and logistics by land, sea and air; power plants and utilities, and commercial construction and property development. The report analyses the impact of regulatory changes and the macroeconomic outlook and features competitive intelligence on contractors and suppliers.
BMI's Oman Infrastructure Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Omani infrastructure and construction industry.
- Benchmark BMI's independent infrastructure industry forecasts for Oman to test other views - a key input for successful budgetary and planning in the Omani infrastructure market.
- Target business opportunities and risks in the Omani infrastructure sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Oman.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).
BMI Industry View
Summary of BMI's key industry forecasts, views and trend analysis covering infrastructure and construction, regulatory changes, major investments and projects and significant multinational and national company developments.
These are broken down into Construction (social, commercial and residential), Transport (roads, railways, ports, airports etc), and Energy & Utilities (powerplants, renewable projects, pipelines and so on).
Analysis of latest projects across the infrastructure sector (covering the transport, utilities and commercial construction sub-sectors) - including:
Market Overview:Analysis of the key elements driving developments, including evaluations of current capacity and future requirements.
Building Materials Overview
The building materials overview provides industry trend analysis on the global and regional demands for building materials and the impact of this on the emerging and developed markets.
Business Environment Ratings
BMI's Infrastructure Business Environment Ratings provide a country-comparative Risk-Reward Ratings index aimed at investors (construction companies, suppliers and partners) in the regional infrastructure market.
The ratings methodology makes sophisticated use of over 40 industry, economic and demographic data point.
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