Venezuela Infrastructure Report 2013

Publisher Name :
Date: 21-Jan-2013
No. of pages: 59

BMI View: We expect growth to decline sharply in 2013 and to continue to deteriorate over our forecast
period. Our 5% construction industry real growth forecast for 2013 is partly due to base effects from
exceptionally strong growth in 2012 (estimated at 15.8%), but is also due to the continuation of economic
and policy mismanagement represented by the re-election of Hugo Chavez. Consequently, we believe the
government will struggle to finance high value projects such as the social housing programme, new
railways and revitalising the ports and electricity sectors. Consequently, we expect growth to average just
1.3% between 2014 and 2021.
Despite strong growth in 2012, and a number of infrastructure projects promised by the government, as
well as a continuation of the housing construction programme, which drove activity in 2012, we do not
expect strong growth to be repeated in 2013. Indeed, factoring in base effects, high inflation, slowdown in
production growth in oil, and waning momentum to pursue a social agenda following the election, we
believe 2013 will be the start of a steep deceleration in growth. While there are a number of projects
which, if progressed, would present upside potential, we believe the fundamental weakness will be
exposed.
Fundamental Weaknesses Underlining Pessimism:
?? The re-election of Huge Chavez for his third six-year term implies a continuation of economic
mismanagement policies, which have been detrimental to the economy and business
environment. Arbitrary decision making, anti-market policies and under investment in favour of
populist spending has preventing investment in infrastructure over the past decade, and we
expect continuation of the same over Chavez’s next term.
?? Rising oil production will do little to help the government fund investment programmes as much
of its future oil production has been sold to China, with fund diverted to the social spending
agenda enacted over 2012. Consequently, even though oil prices will remain elevated over the
near term, and production is expected to increase, the government’s fiscal position will not
improve by the same level.
?? High inflation is eroding real growth and we expect this to be exacerbated over the short term.
Our country risk team is anticipating currency devaluation in Q113, which will place greater
upside pressure on the cost of imported building materials. We are factoring in inflation above
20% until 2016, which is driving our low real growth outlook over the period.
Projects moving forward present upside potential:
?? Estimated 15.8% real growth in 2012 was predominantly driven by government construction of
housing under the Great Housing Mission (GMVV). The programme, launched in May 2011,
hoped to build 350,000 houses in its first 18 months and eventually three million houses by
2019, and was implemented vigorously ahead of elections. As of September 2012, a total of
243,990 houses had been built since the launch of the mission, reaching 70% of the 18 month
target. However, we do not expect this pace of homebuilding to continue into the next 18
months. Despite Chavez approving a further US$5bn for the programme for the 2013-14 period,
the momentum prior to the election is likely to have dissipated and consequently we expect its
contribution to headline growth to decline rapidly in 2013 and 2014.
?? The government’s Railway Development Plan is seeing billions of dollars invested into new
railway projects. The largest is the US$7.5bn project being built by China Railway
Engineering. The 468km rail line linking Anaco, in Anzoategui and Tinaco in Cojedes was 20
%complete as of September 2012. Also under construction is the EUR3.3bn Puerto Cabello – La
Encrucijada railway line, which was 67% complete as of September 2012. The railway is being
built by Impregilo and Ghella, and is due to be completed in 2014. The consortium is also
building two new lines between the cities of San Juan de Los Morros and San Fernando de
Apure, and the cities of Chaguaramas and Cabruta.
?? The government is reportedly investing US$6bn to addressing Venezuela’s practically defunct
electricity sector. The largest project under construction is the US$6.6bn Tocoma hydropower
project (also known as Manuel Piar), which will have a capacity of 2,160MW.

Venezuela Infrastructure Report 2013

BMI Industry View ........................................................................................................................................... 5
SWOT Analysis ................................................................................................................................................ 7
Venezuela Infrastructure Industry SWOT ............................................................................................................................................................. 7
Market Overview .............................................................................................................................................. 8
Building Materials ......................................................................................................................................... 10
Latin America .......................................................................................................................................................................................................... 10
Industry Forecast Scenario ........................................................................................................................... 15
Table: Venezuela Construction And Infrastructure Industry Data, 2010-2016 .................................................................................................... 15
Table: Venezuela Construction And Infrastructure Long Term Forecasts, 2015-2021 ........................................................................................ 15
Construction And Infrastructure Forecast Scenario ................................................................................................................................................ 16
Major Projects Table - Transport ........................................................................................................................................................................... 21
Table: Major Projects - Transport ...................................................................................................................................................................... 21
Major Projects Major Projects Table - Energy And Utilities .................................................................................................................................. 24
Table: Major Projects - Energy And Utilities..................................................................................................................................................... 24
Residential/Non- Residential Construction And Social Infrastructure ..................................................... 26
Major Projects Table - Residential/Non-Residential Construction And Social Infrastructure ................................................................................. 27
Table: Major Projects - Residential/ Non-Residential Construction And Social Infrastructure .......................................................................... 27
Risk/Reward Ratings ..................................................................................................................................... 28
Venezuela's Risk/Reward Ratings ............................................................................................................................................................................ 28
Rewards .............................................................................................................................................................................................................. 28
Risks ................................................................................................................................................................................................................... 28
Regional Overview ................................................................................................................................................................................................... 29
Table: Americas Infrastructure Risk/Reward Ratings ......................................................................................................................................... 35
Company Monitor .......................................................................................................................................... 36
Odebrecht ........................................................................................................................................................................................................... 36
Otepi ................................................................................................................................................................................................................... 39
Global Overview ............................................................................................................................................ 41
Methodology .................................................................................................................................................. 48
Industry Forecasts ................................................................................................................................................................................................... 48
Construction Industry ......................................................................................................................................................................................... 48
Data Methodology ................................................................................................................................................................................................... 49
Construction ....................................................................................................................................................................................................... 49
Capital Investment .............................................................................................................................................................................................. 50
Construction Sector Employment ........................................................................................................................................................................ 50
Infrastructure Business Environment Rating ........................................................................................................................................................... 51
Table: Infrastructure Business Environment Indicators ..................................................................................................................................... 52
Project Finance Ratings .......................................................................................................................................................................................... 53
Table: Design And Construction Phase .............................................................................................................................................................. 54
Table: Commissioning And Operating Phase - Commercial Construction ......................................................................................................... 55
Table: Commissioning And Operating Phase - Energy And Utilities .................................................................................................................. 56
Table: Commissioning And Operating Phase - Transport .................................................................................................................................. 57
Sources .................................................................................................................................................................................................................... 58Table: Venezuela Construction And Infrastructure Industry Data, 2010-2016
Table: Venezuela Construction And Infrastructure Long Term Forecasts, 2015-2021
Table: Major Projects - Transport
Table: Major Projects - Energy And Utilities
Table: Major Projects - Residential/ Non-Residential Construction And Social Infrastructure
Table: Americas Infrastructure Risk/Reward Ratings
Table: Infrastructure Business Environment Indicators
Table: Design And Construction Phase
Table: Commissioning And Operating Phase - Commercial Construction
Table: Commissioning And Operating Phase - Energy And Utilities
Table: Commissioning And Operating Phase - Transport

  • Global Cystic Fibrosis Market Propelled by Technological Advancement
    With increasing prevalence of cystic fibrosis and its growing awareness among people, the global market for cystic fibrosis is expected to grow at a steady pace. Cystic fibrosis is a genetic condition where the lungs and digestive system becomes clogged with excess mucus. This condition is more common among Caucasian population than people of Asian [...]
  • Bright Prospects Ahead for the SONAR Systems and Technology Market
    With advancement of technology, the global SONAR systems and technology market is increasing at a rapid pace. SONAR which is an acronym for SOund Navigation And Ranging is a technique that uses sound propagation to navigate and communicate with objects on or under the surface of the water, such as other vessels. In 2014, the [...]
  • Increase in Surgical Procedures Propelling the Anesthesia Drugs Market
    With increase in surgical operations and invasive medical tests, the market for anesthesia drugs has been growing at a steady pace. Anesthesia drugs can be broadly categorized into two types – general anesthesia drugs and local anesthesia drugs. Anesthetic drugs help in inducing sleep and preventing discomfort and pain during surgical procedures. By 2018, the [...]
  • Water Treatment Chemicals Market to be driven by Increasing Demand from Developing Economies
    The global market for water treatment chemicals is growing at a steady pace with rapid urbanization and high demand from end-users. Water treatment chemicals are used for treating municipal water as well as agricultural wastewater. With higher demand for clean, drinking water with increasing population and increase in the number of industries, the global market [...]
  • Rise in Prevalence of Allergic Diseases Driving the Global Allergy Diagnostics Market
    With rise in the incidences of allergic diseases in the world, the global allergy diagnostics market has also witnessed steady growth. In recent years, there has been an increase in the number of people suffering from different allergies, particularly food allergies and drug allergies. The number of people suffering from asthma has also increased in [...]
  • To bring in Photography to the Real World Visual Supply Co Acquires Artifact Uprising
  • Visual Supply Co, VSCO has brought a Denver-based startup, Artifact Uprising, which is focused on bringing photographers’ work from the digital hubs on regular basis by modern creatives to the real world as prints and tangible books. Artifact Uprising is …

  • Graft-Versus-Host Disease (GVHD) Treatment Market worth $407 million by 2018
  • The graft-versus-host disease (GVHD) treatment market value will increase from $297 million in 2013 to $407 million by 2018, at a Compound Annual Growth Rate (CAGR) of 6.59%, according to research and consulting firm GlobalData. The company’s latest report* states …

  • Poland Pharmaceutical Industry Growing at 8.3% CAGR to 2020
  • Factors such as the growing elderly population, increasing availability of affordable medicines, and transparent regulatory guidelines will provide the necessary impetus for the growth of the Polish pharmaceutical market, but a decrease in mark-up prices and the country’s stringent drug …

  • Asia-Pacific, Led by China, Drive the Global Methanol Industry
  • China is driving the global methanol industry, with tremendous demand from both its energy and petrochemicals sectors. It accounts for 87.9% of Asia-Pacific’s (APAC) methanol capacity, and 51.9% of the global methanol capacity. Despite a large planned capacity increase in …

  • Diagnostic X-ray Imaging Market worth $4.0 billion by 2020
  • GlobalData estimates that the global diagnostic X-ray imaging market, worth $2.4 billion in 2012, will reach almost $4.0 billion by 2020, increasing at a Compound Annual Growth Rate (CAGR) of 6.7% during the forecast period. Many players are active in …

  • 2015 Deep Research Report on Global Security Glass Industry
    Published: 25-Feb-2015        Price: US $2600 Onwards        Pages: 171
    This is a professional and depth research report on Global Security Glass industry. For overview analysis, the report introduces Security Glass basic information including definition, classification, application, industry chain structure, industry overview, policy analysis, and news analysis, etc. For international and China market analysis, the report analyzes Security Glass markets in China and other countries or regions (such as Asia, Europe, North America etc) by presenting research on......
  • Australia Infrastructure Report Q2 2015
    Published: 25-Feb-2015        Price: US $1295 Onwards        Pages: 128
    BMI View: Australia's construction sector will slow in 2015, with growth being weighed down by a slowdown in the mining sector, a lack of competitiveness and political headwinds. Growth however, remains at a respectable rate, supported by the housing sector - fuelled by record-low interest rates - and the government's emphasis on developing the country's infrastructure. Key Trends And Developments ? We remain positive over growth for the sector in 2015, although our 3.0% growth forecast for the ......
  • Philippines Infrastructure Report Q2 2015
    Published: 25-Feb-2015        Price: US $1295 Onwards        Pages: 113
    BMI View: Growth in the Philippines construction sector surged in Q414, with a massive real expansion of 20.5% year-on-year (y-o-y). Reconstruction efforts stemming from the after-effects of Typhoon Yolanda in late 2013 should continue to provide a strong tailwind for construction activity throughout 2015 and we forecast the sector will experience real growth of 9.4%. Key Trends And Developments ? In December 2014, The Department of Transportation and Communications and the Civil Aviation Author......
  • Qatar Infrastructure Report Q2 2015
    Published: 25-Feb-2015        Price: US $1295 Onwards        Pages: 80
    BMI View: Qatar's construction industry continues to perform strongly and with average real growth of 10.2% over our 10-year forecast period, we do not expect this strength to diminish. We do not expect lower oil prices to have a notable impact on growth, given the centrality of infrastructure spending to the government's well financed plans. The industry is navigating capacity constraints seemingly well, although we still believe price pressures will be felt over the medium term. Qatar is the f......
  • Global Construction Outlook 2020
    Published: 18-Feb-2015        Price: US $4950 Onwards        Pages: 87
    Synopsis The report Provides the CIC’s view of the outlook to 2020 for the global economy and the global construction industry, and how the industry will evolve in all major countries worldwide Summary The global construction industry has regained growth momentum, with the pace of expansion accelerating from an annual average of 2.7% a year in real terms in 2011–2013 to 3.1% in 2014. Timetric’s Construction Intelligence Center (CIC) forecasts a further rise to 3.8% in 2015, and th......
  • Namibia Infrastructure Report Q2 2015
    Published: 18-Feb-2015        Price: US $1295 Onwards        Pages: 97
    BMI View: Following a mixed 2014, we expect the Namibian economy and the construction sector to continue to perform well, however with a downward revision to our medium-term outlook. Growth rates in 2015 will not be able to match the high double-digit numbers seen over the past years, as the governments stimulus programme terminated at end-2014. Namibia's construction sector growth is being driven by a number of factors (listed below). The country has great potential and a building boom has seen......
  • Turkey Infrastructure Report Q2 2015
    Published: 18-Feb-2015        Price: US $1295 Onwards        Pages: 81
    BMI View: Turkey's drive to increase the private sector's presence in the infrastructure sector has gathered pace in early 2015, in line with our view that despite short-term headwinds, Turkey presents an attractive long-term market. Financing risks have grown over the past year, particularly in light of a depreciating currency and we are monitoring political risks in the form of President Erdogan's growing grip on power. On the back of a strong project pipeline, we maintain a healthy constructi......
  • Zambia Infrastructure Report Q2 2015
    Published: 18-Feb-2015        Price: US $1295 Onwards        Pages: 97
    BMI View: Our outlook for 2015 indicates continued stable growth of the Zambian economy of 6-7% as a whole and a strong growth of about 15% for the infrastructure and construction sector. Long-term trends depict a similar stable growth as anti-corruption projects and development agendas continue to improve overall conditions in the country. Crucial for the success of these policies will be an improved revenue flow and funds entering the country. The construction sector is being targeted under th......
  • Zimbabwe Infrastructure Report Q2 2015
    Published: 18-Feb-2015        Price: US $1295 Onwards        Pages: 94
    BMI View: The political risk in Zimbabwe is rising as the economy struggles on and the battle of succession is increasingly coming to the forefront. Investments and foreign companies remain deterred from entering the country through existing legislations, including the indigenisation laws. The country's construction industry remains poor in relation to its regional counterparts, with average growth between 2015 and 2024 expected to be a mediocre 2.6%. Zimbabwe holds vast potential as a frontier ......
  • SERVICES
    Value for Money
    We believe in "optimum utilization of available budget and resources". While servicing our clients' (your) market research requirements, we keep the same approach in focus to help you get the best value for your $$s.
    Ever Growing Inventory
    Ranging from the smallest feasible / required data (datasheets, data facts, SWOT analysis, company profiles, etc) to full research reports that help you make decisions, our inventory is updated almost on a daily basis with the latest industry reports from domain experts that track more than 5000 niche sectors.
    One Stop Solution
    Need a custom research report on medical devices market? Require all available business intelligence on 3D printing industry? Exploring F&B sector of a particular country/region? RnRMarketResearch.com is your one-stop-solution to all market intelligence needs. We not only offer custom research and consulting services, we also "bundle" reports to meet your needs and help you fetch the data analysis you require for your business.
    Dedicated Client Engagement
    Not limited to only "finding" relevant reports for you, our client engagement team dedicates its efforts to understand your "business need" and accordingly maps available research data to help you move forward. Call "your" client engagement executive any time of your day and get your questions answered in order to make the correct business decision.
    Saving Time and Efforts
    Simply share your research requirement details with us and let us do all the hard work to find required intelligence for you. When you add up our "one stop solution" and "dedicated client engagement" services mentioned above, you obviously know the time and effort saving you do by working with us.
    Payment Flexibility
    Working with Fortune 500 organizations, we understand the importance of being flexible for payments. Share your payment terms with us and we will surely match up to them to ensure you get access to required business intelligence data without having to wait for the payment to be done.
    Post-Purchase Research Support
    Have questions after reading a report / datasheet bought through us? Not sure about the methodology used for data available in the research? Talk to us / Share your questions with us and if required, we will connect you with the analyst(s)/author(s) of the report(s) and ensure you get satisfactory answers for the same. Need more data / analysis / report(s) on the topic of your research/project? The RnRMarketResearch.com team is here for you 24X7 to support you with your post-purchase requirements. Subscription Offers & Packages (Get in touch with us for more details - [email protected] / +1 888 391 5441 )
    • Ad Hoc
    • Pay - as - you - go / Bucket Subscriptions
    • Fixed Cost for #of reports
    • Customize / Personalize as per your needs