News China to spend $31bn on 11 new reactors China has given the green light to 11 reactors on five sites with a combined investment value of $31bn. The decision was made at a State Council meeting on Monday…
News Could you lead a megaproject? Find out in next week’s 21CC podcast Megaprojects, writes Bent Flyvbjerg, a leading expert on the topic, “are large-scale, complex ventures that typically cost more than 1 billion US Dollars, take many years to build, involve multiple…
News Shenzhen to buy unsold new homes for low-income renters Shenzhen has become China’s first tier-one city to announce plans to buy unsold homes from struggling developers to turn them into rentals for low-income people. It comes three months after…
News Highways contractor accused of ‘brazen fraud’ in price-fixing conspiracy An Oklahoma contractor specialising in erosion control on highway projects has been charged, along with its vice president and another employee, with a price-fixing conspiracy targeting more than $100m worth…
Projects Amtrak’s biggest-ever upgrade is set to unblock America’s busiest railroad A flagship project of President Joe Biden’s $1.3 trillion bipartisan Infrastructure Investment and Jobs Act (IIJA) is accelerating this summer, a senior project leader tells GCR. Amtrak’s $6bn programme to…
News Widow of Philadelphia construction worker awarded $68m in compensation A jury in Philadelphia has ordered that the widow of a construction worker should receive compensation of $68.5m after it found his death was due to negligence. Siarhei Marhunou, 38,…
Partner Content How evolving global trends will impact small construction businesses in the UK The UK construction market is set to reach £476.6bn by 2027. Unquestionably, the industry is undergoing a lot of transformation, shaped by technological advancements, socio-economic and political factors, environmental concerns,…
Markets Saudi Arabia set to be ‘world’s largest construction market’ by 2028 Saudi Arabia will be the world’s largest construction market, according to a report by property consultancy Knight Frank and covered in the business press. It said industry output reached $141bn…
News China’s home prices tumble fastest in nine years Official data shows that new-home prices in China fell at the fastest rate in nine years last month, Reuters reports. They dropped 0.7% in May from the previous month, Reuters…
News Stuttgart’s controversial rail project to take another year and cost €12bn A controversial project to reorganise the rail network around Stuttgart has been delayed by more than a year, reports Der Spiegel. The Stuttgart 21 scheme involves building a main underground…
Companies Lendlease takes ‘tough decision’ to quit international markets Australian construction group Lendlease has announced plans to exit international markets in the next 18 months. The move will allow the company to “recycle” US$3bn in capital by completing projects,…
News Kenya secures US funding for $3.6bn Mombasa–Nairobi motorway Kenya has secured $3.6bn of funding for a 440km motorway between the capital of Nairobi and the port city of Mombasa. The Usahihi Expressway is set to become the longest…
News Arup loses $25m in sophisticated deepfake scam Hong Kong police have launched an investigation after an employee of engineering consultant Arup was tricked by deepfake imagery and sound into sending criminals HK$200m (US$25m) earlier this year. Arup…
News Biden’s largesse is just the start in fixing US infrastructure, civil engineers say US President Joe Biden’s bipartisan Infrastructure Investment and Jobs Act (IIJA) will save the average American household nearly $700 a year in the coming two decades, but that gain will…
News New York demands freedom from lowest-bidder contracting New York City is trying to break free from state rules requiring the use of lowest-bidder contracting, rallying at City Hall last week under the slogan “Let NYC Build Better,…
Companies Ferrovial launches on Nasdaq stock exchange Spain’s Ferrovial launched on New York’s Nasdaq stock exchange yesterday, meaning its shares are now trading in the US, Spain and the Netherlands under the ticker symbol “FER”. It called…
Perspectives Too big to stand: Why China’s property sector was riding for a fall Academics at Michigan University argue that China’s property-sector woes may have causes beyond the overambition of developers and the government’s actions to limit the ballooning debt in the sector. Led…
News 16 small contractors arrested in Florida sting Police in Florida have arrested 16 men in a sting operation designed to detect contractors trading illegally. The sting was carried out in Manatee County over three days in April.…