Builders Await Bids for €270 Billion Infrastructure Projects, CIF Warns
Builders are awaiting state bids for €270 billion in infrastructure projects, according to the CIF. CEO Andrew Brownlee highlighted the lack of a centralized project pipeline, hindering investment despite job growth. Rising costs and energy prices are also concerns for the industry.
The Construction Industry Federation (CIF) states builders are still awaiting state bids for major infrastructure projects, despite the Government's €270 billion pledge to redevelop transport, water, and energy networks. CIF chief executive Andrew Brownlee noted the lack of a centralized pipeline of projects prevents construction businesses from confidently hiring and investing.
Brownlee welcomed initial bids for the Dublin metro and Uisce Éireann projects but criticized the lack of detail in many National Development Plan proposals. A CIF survey of 138 building businesses for Q2 shows many are expanding outside the State. One in four companies reported revenue increases in Q1, and 36 percent expect turnover growth this year. Construction jobs exceeded 200,000 for the first time in nearly 20 years.
However, almost all companies reported cost increases in Q1 and anticipate further hikes. Brownlee warned that the energy crisis, exacerbated by US-Israeli strikes on Iran, will increase material, plant, and machinery costs. He acknowledged the Government's fuel subsidy scheme as helpful.