Published on : Mar 02, 2017
Albany, New York, March 2, 2017: An analysis of the Construction activity in Croatia displays that the industry has suffered a dramatic decline during the review period (2011-2015), following by the economic recession, which resulted in a weakening business environment and a contracted output value in real terms. But, in the coming few years, industry’s output value anticipated to pick up slightly over the forecast period (2016-2020). This has been studied by Timetric’s new report added to the widespread database of Market Research Hub (MRH). This study is titled “Energy and Utilities Infrastructure Construction in Croatia” until the end of 2020, which noticeably states that this growth is mainly motivated by rising investments in the country’s public infrastructure, commercial and energy projects.
It is an extensive market research study, by which the readers will be aware of the detailed historic and forecast market value data for the energy and utilities construction industry, including a breakdown of the data by construction activity. Correspondingly, subsectors such as oil and gas, electricity, telecommunication, sewage and water infrastructure construction are also highlighted. Moreover, this study offers a top-level overview and insights into the operational environment of the Croatian energy and utilities infrastructure construction industry. Forecasts up to 2020 provide valuations of the industry using the construction output and value-add methods.
Furthermore, the report studies that constant decline of the construction industry in the Croatian GDP is very concerning. Due to this, with an aim to develop the country's infrastructure, the government is seeking financial assistance from the EU. According to the study findings, in March 2015 the European Investment Bank (EIB) has approved a loan of HRK 2.2 billion (US$320.8 million) as the initial disbursement of the total loan of HRK4.5 billion (US$656.2 million). This expense is a part of the EIB’s move to co-finance HRK60.6 billion (US$8.8 billion) of primacy infrastructure projects in sectors such as healthcare, energy and transport.
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In addition, the government also targets to improve local energy resources and is expected to support investments in energy infrastructure projects, which will fuel growth in the industry. As a member of the European Union (EU) since July 1, 2013, Croatia has accustomed its energy sector regulations and development plans to enable smooth incorporation into the European energy market. In November 2015, the EC has publicized plans to implement five new energy infrastructure projects in the country under the CEF program. These projects are categorized under the EC’s list of Projects of Common Interest (PCIs). In addition, the EU's provision of financial aid to developing infrastructure projects across the country is also adding impetus to construction activity.
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