UK Construction Boosted by Big Projects

UK construction is estimated to return to pre-recession levels for a period of time this year because of a surge in rail, road and energy projects. Construction work is forecast to rise 4.1 per cent in 2017, according to the Construction Products Association. This will produce revenues of more than €10.4bn for the building industry.rnIn the past 3 years, a rise in housebuilding has driven growth in the industry. But for the next 5 years, infrastructure projects will be the largest contributor, with work forecast to increase by 56.9 per cent between now and 2019.

Rail Projects

Big rail projects consist of the €563m upgrade of Bank Station in central London and the development of cross-country rail routes including North-West network and the Great Western Railway. Network Rail, the property-owners of the historical building, are working on$100 million revamp of the Victorian structure as part of the job to regenerate the place around the station. The goal is to complete all the project by the end of 2019, 2 years after the electrification of the London to Bristol rail has been done. There is also a new 118-kilometer top capacity rail line running via central London from Reading and Heathrow in the west to Abbey Wood and Shenfield in the East. This is the largest construction project in Europe.rnHowever, the electrification of the TransPennineand Midland Mainline routes have already been delayed until 2019, and the powerful nuclear power station at Hinckley Point C, which is set to supply 7% of UK energy when completed in 2025, it is also in danger of stalling.

Road Projects

Road construction is estimated to cost the government €15.2Bn. All road Investment strategy is operated by Highways England, although there are worries that work may need to be refocused on a fewer number of projects as some are running behind schedule or exceeding budgets.rnAlthough growth in road construction is upward, it is forecast to be slower than in previous years as the industry struggles with increasing cost and widespread problems in recruiting professional workers. The same skills shortages also affect house builders in both residential and commercial sectors with worker numbers falling by thirty percent since 2008. However, specialist recruiters such as Navartis are hoping to plug these gaps by working closely with civil construction and engineering companies.

Other Infrastructure Projects

Medical facilities are forecast to grow by 12.8%.rnSpending on schools is forecast to grow by 22.5 percent by 2019.There is also planned spending increases on other education facilities such as Universities and Colleges.