The Vietnam construction industry will continue to gain further momentum in the fourth quarter and record an overall growth rate of 5.5% in 2020, says GlobalData, a leading data and analytics company.
Asia & Pacific Rim
China’s Belt and Road Initiative (BRI) projects have been adversely affected due to the world-wide disruption caused by the COVID-19 crisis, says GlobalData.
Cemex Holdings Philippines has shared its financial results for Q3 2020, and claims the company remains optimistic for the long-term growth prospects of the Philippines.
The company has supported Tan Thang Cement to successfully complete the commissioning of ABB Ability™ digital solutions at a new cement plant in Nghe An province, Vietnam.
The company has announced strong results in Q3 2020 with all regions showing increasing profitability.
The company has announced that it has closed its deal with LafargeHolcim, acquiring 75% of the company’s cement terminal at Thilafushi Island in the Maldives.
With its new subsidiary in Singapore, the company is strengthening its presence in the region and expanding its international service and distribution network.
Despite the improved performance in most of the countries across North-East Asia, growth in construction output in the region has been revised down to 0.9%, according to GlobalData.
Due to the COVID-19 outbreak, Australasia’s construction output is expected to contract by 4.8% in 2020, with hopes that the region will bounce back in 2021, says GlobalData.
New research by GlobalData’s MEED has shown that the commercial value of construction contracts issued in the Gulf Cooperation Council (GCC) fell by more than 50% in the first eight months of 2020 compared to the same period in 2019.
The cement producer SemeyCement has placed an order with Gebr. Pfeiffer for a vertical mill of type MVR 5000 C-4 to grind various types of cement.
India’s construction industry is expected to post a sharp rebound and grow by 11.6% in 2021, owing to lower base and pent up demand, according to GlobalData.