Browse the complete Report on: Uganda Infrastructure Report Q3 2010
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Uganda’s construction sector has remarkably strong growth potential over the medium-term as the government launches a National Development Plan (NDP) for 2010/2011 to 2014/2015, overhauling the country’s socio-economic environment. A core component of the plan is infrastructure development across all sectors and BMI expects the construction sector to expand by as much as 15.01% in 2010 to UGX4.965bn (US$2.55bn) on the back of this investment.
The government’s NDP will help sustain strong growth as the country is expected to hit economic growth of 7.2% in the 2010/2011 financial year. The World Bank (WB) offered a US$1.97bn loan to Uganda to support the plan. The bank noted that while Uganda had maintained macroeconomic stability, it still faces constraints such as high population growth, regional disparities and weaknesses in governance and service delivery.
The Ministry of Works and Transport’s key objectives for 2010/2011 include the paving and maintenance of roads, traffic flow improvement in Kampala with a modern bus service, greater volumes of passenger and freight traffic on Uganda’s rail network as well as by air and sea. The government is also aiming to relieve pressure on Uganda’s roads by removing freight traffic from this mode of transport, which suffers from axle overloading as over 90% of freight and passenger movement takes place on the road network. Funds for road maintenance will be channelled through the Uganda Road Fund (URF), which will become operational in 2010-2011. The fund is expected to finance the maintenance of 21,000km in national roads, 22,500km in district roads and 5,000km in urban roads.
Meanwhile, the Ministry of Energy and Mineral Development’s main priorities are to expand power capacity and transmission lines, improve rural access to electricity partly through renewable energy, encourage oil exploration and building capacity and geoscientific data within the mining sector. The ministry hopes for a budget allocation of UGX482.46bn (US$210.28mn) for the financial year, which is 31% less than the ministry’s 2009-2010 approved budget of UGX698.93bn (US$304.63mn). The drop appears to be largely due to a sharp reduction in spending on hydropower development in the coming year. Uganda’s power generation capacity currently stands at around 500MW, which the country is working to ramp up to 780-820MW, while increasing rural electrification to 10%. The government is aiming to increase access to electricity for the overall population to 12% within 2010-2011 and to prevent load shedding altogether. The government wants electrification to reach as high as 20% by 2011. Overall, BMI expects to see an average real growth of 12.6% y-o-y in the construction sector between 2010 and 2014. By 2014 we expect the sector will register a real growth of 13.46%, growing to UGX9,880bn (US$6.27bn).


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Browse the complete Report on: Canada Infrastructure Report Q3 2010
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BMI’s debut Canada Infrastructure Report uncovers a market which despite being developed offers substantial opportunities for growth.
Canada's construction industry appears to be over the worst of the economic downturn, which caused a 7% contraction in industry value in 2009. BMI launches its debut forecasts for the Canadian construction industry against this backdrop, forecasting consistently strong growth over the midterm period, starting with 3.55% real industry growth in 2010.
Historic real growth in Canada's construction industry indicates a dynamic market with substantial opportunities for construction companies. Indeed, compared to similar developed markets around the world, Canada's construction industry has been relatively booming. The US construction industry, an obvious comparison, has experienced a nearly eight-year decline, excluding one year of minimal growth in 2004.
Despite previous strengths, the industry was hit quite substantially by the economic downturn, with growth slowing to 2.8% in 2008 and contracting by a substantial 7.25% in 2009. Although this contraction was sharp, it is also likely to be short lived. In 2010, BMI is forecasting industry growth of 3.55%, and data for approval of non-residential building permits substantiates this optimism. The value of approvals has grown consistently over the first few months of the year (January-April), and is expected to continue, with a number of project announcements over recent months. In April 2010, it grew by 32% month on month.
The construction industry has been boosted by the government's CAD12bn (US$11.7bn) stimulus plan. Announced in January 2009, the plan set up a CAD4bn Infrastructure Stimulus Fund, providing CAD7bn (US$6.8bn) in funding for other infrastructure and social projects, including the CAD1bn (US$0.98bn) Green Infrastructure Fund. The stimulus' measures have provided a boost to the industry; however, its withdrawal will present a downside risk, especially to our forecasts from 2011. The immediate risk comes from the time span of the stimulus fund. It was set up to support infrastructure projects between 2009/10 and 2010/11, and only projects which could be completed by March 31 2011 were eligible for funding. As such, the impact of the stimulus funds will start to recede from the latter half of 2011 onwards. The major question is whether the private sector will be willing to step in and take over creating industry value from this point, and this represents a major downside risk to our optimistic forecasts. However, with Canada’s attractive business environment and project finance ratings, BMI expects strong private sector investment to be forthcoming.
In BMI’s debut Infrastructure Business Environment Ratings for Canada, we find an attractive market. Canada scores 69.3 out of 100, compiled from strong industry opportunities and limited risks. In terms of Project Finance Ratings, Canada’s strong precedent for PPPs and concessions, it is home to the most profitable toll road in the world, puts it in an enviable position and contributes to an overall score of 69.92 out of 100.
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Browse the complete Report on:  Philippines Infrastructure Report Q3 2010

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Real growth data for the Philippines construction industry value in 2009 has been revised down to 4.3% year-on-year (y-o-y) from a previous 5.8% y-o-y. While this represents a notable revision, it still indicates solid growth for the country against a difficult economic backdrop. On the plus side, nominal industry value has been revised upwards, from PHP378.67bn to PHP390.45bn (US$8.46bn), for 2009. Despite the slowdown in construction industry growth experienced in 2009, we are still optimistic for growth to rebound in 2010 to previous highs. In 2010, we are anticipating real growth of 7.16%, with this increasing into double digit growth later in the forecast period. Between 2010 and 2014 we are anticipating average growth of around 10% y-o-y.
Evidence that our optimism for 2010 and beyond is well founded is shown in the number of investment pledges recorded by the Philippine Board of Investments. In the first half of the year investment approvals increased by 318% to PHP124.42bn in the same period in 2009 and higher than those approved in the whole of 2009. Investment pledges have been received for 87 projects, of which, 70% were for power projects, including renewable energy and rehabilitation projects. This data presents further upside potential to our forecasts.
However, there are a number of threats to our outlook. Rising construction material prices will threaten the execution of projects. Prices for construction materials increased in April and May 2010, and in June Holcim Philippines announced it would increase its cement prices in the country, starting June 21 2010, further confirming the announcement made by the Board of Investments (BoI) that Philippine cement is one of the most expensive in Asia, second only to Indonesia. Rising prices for cement in the country have been blamed, in part, on the cost of electricity, one of the key inputs. The high cost of electricity, and the intermittent supply, could also pose a threat to construction industry value growth.
Another risk is to one of the largest areas of potential in the Philippines’ infrastructure sector – the renewable energy sector. Despite the passing of the renewable energy act in 2008, which set up a feed-in tariff for renewables, it has yet to define the levels for each individual technology under the renewable bracket, including - solar, geothermal, biomass, wind and small hydro. This is causing uncertainty in the market; indeed, in June 2010, Northwind Power Development put a new wind farm on hold for a year to be located in Aparri, Cagayan..
Despite this, the creation of the Wind Energy Development Association (WEDAP) of the Philippines by a number of power companies, in June 2010, does present potential for better regulations in the sector, and therefore facilitating investment. The association's main focus is to promote and support the development of wind power in the Philippines, as well as influence policy creation under the Renewable Energy Act. So far, WEDAP has called for a reasonable rate of compensation to counteract the high sunk costs of setting up a wind farm, and has suggested feed-in tariffs to make wind competitive with fossil fuels and has called for investment into transmission lines in order to hook up more remote areas to the national grid.


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ReportsandReports comprises an online library of 10,000 reports, in-depth market research studies of over 5000 micro markets, and 25 industry specific websites. Our client list boasts almost all well-known publishers of such reports across the globe. We as a third-party reseller of market research reports employ a number of marketing tools, such as press releases, email-marketing and effective search-engine optimization techniques to drive revenues for our clients. We also provide 24/7 online and offline support service to our customers.


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