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

  • Overview of Global and Chinese 3D Printing Market 2015-2020
    ‘2015 3D Printing Industry Report -Global and Chinese Market’ is a comprehensive research report that describes the scope of the Global and Chinese 3D printing industry, analyzing the end-users behavior and the latest industry trends. Also, the report evaluates the growth prospects and the up-coming opportunities in the industry over the forecast period of 2015-2020. [...]
  • Schottky Diode Industry Research – 2015 Global and Chinese Market Overview
    ‘2015 Schottky Diode Industry Report – Global and Chinese Market Scenario’ is a top-notch research report, delivering premium industry insights and explanations of complex business scenarios. The report systematically articulates various growth prospects and current market challenges being faced by the existing industry players. The research report also drafts a meticulous business forecast that provides [...]
  • Codeine (CAS 76-57-3) Industry Research Report – 2009-2019 Market Forecast
    ‘Global and Chinese Codeine (CAS 76-57-3) Industry, 2009-2019 Market Research Report’, a systematically structured research report, that aims to deliver a detailed understanding of vivid market scenarios prevalent in the Codeine (CAS 76-57-3) industry to the user.  The report articulates various sections that thoroughly describe all key-aspects of the Codeine (CAS 76-57-3) industry. The report [...]
  • Global and Chinese Mainframe Banking Industry 2015 Outlook
    2015 Banks Mainframe Industry Report -Global and Chinese Market is a detailed market research report, delivering premium industry insights and analyzing the growth prospects of the industry over the forecast period of 2015-2020. The systematically structured sections of the research report, aims at conveying a strong business understanding to the user, enhancing the decision making [...]
  • Global and Chinese Market Situation of Milk Infant Formula Industry Over the Period of 2009-2019
    ‘Market Research Report on Global and Chinese Milk Infant Formula Industry, 2009-2019’ a comprehensive market study, that analyses various market landscape and key-aspects of the industry, delivering premium business insight and thorough understanding of the Global and Chinese market conditions to the user. Industry experts have methodologically structured the elaborative sections of the research report, [...]
    • The Oil Drilling Rig Industry
    • The Oil Drilling Rig Industry is characterized with a few typical work specific to this industry only. The work begins with the search for new oil basins or construction of wells. During this time the services of drilling contractors and se…

    • HER2-Negative Breast Cancer’s Therapeutic Market
    • HER2-Negative Breast Cancer is the most common form of cancer occurring in women. The long term survival of patients diagnosed with HER2-Negative Breast Cancer depends solely on its early detection as till now there is no medicine that can …

    • The Market of Plate Heat Exchanger
    • Plate heat exchanger is not only very useful but its also easy to maintain, its compact design makes it more efficient, the product is highly cost-efficient and also the materials of this product are easily available. There are some limitat…

    • The Industry of Binding Machines
    • Binding of books and papers is one of the most important aspect of buying and selling books and thus the demand of binding machines. There are different kinds of binding machines available in the market. The binding type determines the bind…

    • The Boom In Women Infertility Market
    • Infertility is an abnormality in the regular functioning of the human reproductive system. Anyone of male or female might be suffering from this issue. Infertility in woman is caused by either a genetical factor or factors such as aging or …

  • Construction sector in Bulgaria 2011
    Published: 30-Sep-2011        Price: US 2100 Onwards        Pages: 93
    Construction sector in Bulgaria 2011, Development forecasts for 2011-2013 is a compilation of the freshest market data and analysis covering a variety of relevant viewpoints and assembled to create a complete guide to potential business creation or expansion in this rebounding industry. In addition to current opportunity, this third edition report assesses the speed of market growth and details specific residential, non-residential and civil engineering projects that will influence the Bulgarian......
  • Construction sector in Russia H2 2011
    Published: 31-Oct-2011        Price: US 2100 Onwards        Pages: 129
    Construction sector in Russia H2 2011 Development forecasts for 2011-2014 Construction sector in Russia H2 2011, Development forecasts for 2011-2014 updates readers on market activity while providing a comprehensive view of Russian construction overall, and of its residential, infrastructure and non residential segments. The report highlights regions within this huge market that present the greatest likelihood for growth, and describes current trends affecting the market and how they will in......
  • Construction sector in Poland, H2 2011
    Published: 31-Oct-2011        Price: US 3500 Onwards        Pages: 205
    Construction sector in Poland, H2 2011 Comparative regional analysis and development forecasts for 2011-2014 Construction sector in Poland, H2 2011, Comparative regional analysis and development forecasts for 2011-2014 keeps businesses informed on current conditions and appraised of market activity projections for the next three years. This comprehensive, up to the minute document also features a regional approach to market analysis and forecasting that is particularly ......
  • Construction sector in Ukraine 2011
    Published: 31-Dec-2011        Price: US 2100 Onwards        Pages: 113
    Construction sector in Ukraine 2012. Development forecasts for 2012-2014 Construction sector Ukraine 2011, Development forecasts for 2011-2014 is the complete source of new data, concise analysis and solid projections based on facts, trends and statistics for professionals with interests in this market. Ukraine's construction industry has experienced massive changes due to the economic crisis and subsequent upturn, and this report chronicles the changes in key indicators, provides a......
  • China cement manufacturing industry, 2012
    Published: 14-Jan-2012        Price: US 4000 Onwards        Pages: 0
    China cement manufacturing industry, 2012 is valuable for anyone who wants to invest in the cement manufacturing industry, to get Chinese investments; to import into China or export from China, to build factories and take advantage of lower costs in China, to partner with one of the key Chinese corporations, to get market shares as China is boosting its domestic needs; to forecast the future of the world economy as China is leading the way; or to compete in the se......
  • China Wood Flooring Industry Report, 2010-2012
    Published: 05-Feb-2012        Price: US 1800 Onwards        Pages: 74
    In 2010, Chinese wood flooring saw increase in both output and sales volume due to the rebound of real estate industry and the implementation of "building materials going to the countryside", with the output growing by 26.7% year on year to 479 million m2 and the sales volume increasing by 9.4% year on year to 398.5 million m2. In 2011, affected by the tightened real estate regulation policy, rising wood price and the USA's ant......
  • Global and China Microfiber Leather Industry Report, 2011-2012
    Published: 16-Feb-2012        Price: US 1700 Onwards        Pages: 67
    As an upgrading product of traditional artificial leather and an alternative to genuine leather, microfiber leather has been in tight supply. From 2004 to 2010, the global output of microfiber leather maintained a CAGR of 8.7%. In 2010, the figure grew 7.6% YoY to 118 million square meters. Along with the new capacity release of major manufacturers, the world's output of microfiber feather is expected to reach 141 million square meters in 2012. Although the growth rate of microfiber leather outp......
  • Construction in India - Key Trends & Opportunities to 2016: Allocation of US$46.6 billion budget towards infrastructure development to fuel growth
    Published: 29-Feb-2012        Price: US 1950 Onwards        Pages: 238
    This report provides detailed market analysis, information and insights into the India construction market, including: The India construction market's growth prospects by sector, project type and type of construction activity Analysis of equipment, material and service costs across each project type within India Critical insight into the impact of industry trends and issues and the risks and opportunities they present to participants in the India construction market Assessment of the compe......
  • Power sector construction in Russia 2012
    Published: 29-Feb-2012        Price: US 2800 Onwards        Pages: 127
    Power sector construction in Russia 2012, Development forecasts for 2012-2014 describes the market for energy in Russia at a time when the country is poised to undergo perhaps the largest and most valuable renovation/expansion ever chronicled. This new PMR report introduces readers to the investors, contractors, and equipment manufacturers playing major roles in the construction of new, high technology power generation plants equipped to handle Russia’s growing ne......
  • 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