Spanish cement use falls to 1960s levels

Reuters are reporting that Spanish spending on public works contracts slumped by 20% in Q1 2016, as investment decisions on projects like roads, ports and trains were hampered by political deadlock.

Spain has also slashed public spending on building in recent years, seeking to bring its deficit into line with Europe-agreed targets.

Spain awarded public works contracts worth €657 million in the first six months of this year, down 20% from the €820 million awarded in the same period last year.

Cement producers announced in June that cement use in Spain had fallen to levels last seen in the 1960s, gripped by a lack of public spending on the maintenance of roads and buildings.

In June, the head of construction lobby group Seopan, Julian Nunez, blamed public spending cuts on falling investment in the sector and said the lack of a government did not help matters.

Edited from source by Joseph Green. Source: Reuters

Read the article online at: https://www.worldcement.com/europe-cis/24082016/spanish-cement-use-falls-1960-levels-144/