Dallas, TX -- (ReleaseWire) -- 10/26/2012 -- The lack of construction activity in the second quarter of 2012 has prompted us to revise down our full-year forecasts for the construction sector to 1.2% (previously 2.7%). Although we had expected construction activity in Taiwan to remain relatively lackluster in 2012, a deep economic slowdown in China, Taiwan’s main trading partner, is creating an increasingly dour investment climate for construction. Over the medium term however, we expect Taiwan’s construction sector to grow at a relatively robust pace as greater economic integration with China should drive construction activity.
Key developments over the past quarter include:
- In July 2012, Airport Technology reported that the Taiwanese Ministry of Transportation andCommunications is to invest TWD300bn (US$10bn) in the development of TaoyuanInternational Airport into an Asian air transport hub. It is part of the ministry’s TWD1.2tn(US$40bn) Taoyuan Aerotropolis project, which aims to foster Taiwanese economic growthwithin Asia, Europe and the Middle East. The airport’s development will involve theconstruction of a third terminal and runway. Construction will begin in 2015, with completionscheduled for 2018.
- In August 2012, Taiwan High Speed Rail Corporation announced that it will commence construction of new high-speed railway stations in the counties of Changhua, Miaoli and Yunlin, reports Railway Technology. The proposed stations have all successfully passed environmental impact assessments by the Taiwanese Environmental Protection Administration. The stations will cost an estimated TWD7.5bn (US$249m) to build. Commercial operations are scheduled to commence in July 2015.
- In August 2012, Xiamen Water Group announced that a 30km water pipeline is likely to be constructed from Dadeng Island – in Xiamen, China – to the offshore Jinmen county of Taiwan. This route is being considered as the preferable option for the pipeline as water supply is expected to be taken directly from the Jiulong River and Xiamen’s Tingxi reservoir. Initially, the pipeline is likely to supply 25,000 tonnes of water per day, with the capacity expected to reach 60,000 tonnes eventually. The pipeline is aimed at addressing the ongoing water supply shortage and quality problems in the county, the officials added. Zhang Canmin, the deputy mayor of Xiamen, had mentioned two possible pipeline routes – one from Weitou village in Jinjiang to Jinmen, and the other from Dadeng Island in Xiamen.
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