UK infrastructure contracts exceed £2 billion mark in July for the first time in 18 months

In July 2015 the value of UK infrastructure contracts exceeded the £2 billion mark, increasing by nearly 90% y/y compared to 2014. The North West dominated with 32% of all contract values as well as an increase of almost 25% in activity compared to July 2014. The Burbo Bank project aided this significantly, as did the £130 million M6 motorway junction 16-19 developments.

According to Barbour ABI the largest contracts awarded in July were a £250 million extension to the Burbo Bank offshore wind farm and a Beddington based ‘energy from waste’ facility worth £200 million.

Michael Dall, Lead Economist at Barbour ABI, commented: “Over the last five months, continued spending on road projects and the growing amount of renewable energy contracts has propelled infrastructure to become the top performing sector in construction for July. It is evidence that the projects proposed by the government are starting to have an impact on the construction industry, though it is important that these move from contractor appointed to spades in the ground for the full effect to be realised.”

Edited from press release by Angharad Lock

Read the article online at: https://www.worldcement.com/europe-cis/20082015/uk-infrastructure-contracts-exceeds-2-billion-mark-in-july-for-the-first-time-in-18-months-412/