Construction Sector May Be Stagnant Until 2025
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Construction Sector May Be Stagnant Until 2025

Photo by:   Scott Blake
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Paloma Duran By Paloma Duran | Journalist and Industry Analyst - Thu, 12/15/2022 - 11:52

Industry leaders say rising inflation, cost increases and a lack of investment are the main reasons for the construction industry’s stagnation. TuHabi said that by using information, data and technology, the sector could increase its dynamism. In addition, according to Mexico City, it avoided a US$511 million overrun by handing over the Mexico-Toluca Interurban Train to different companies.

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Construction Sector to Start Growing in 2025

The construction sector is probably experiencing one of its most difficult periods, with COVID-19 still affecting companies through constant increases in material costs, high interest rates and lacking investment in infrastructure. Industry experts warn that this situation might not change before 2025.  

Tech Could Boost Housing Sector’s Contribution to GDP: TuHabi

The housing sector is not known to be a sector that incorporates technology in its daily operations, but this could change through property technology (proptech) companies participating more in the Mexican market. Industry insiders say that their technology could boost the sector’s contribution to the national GDP.  

Mexico City Reports Cost Savings for Mexico-Toluca Train

The government of Mexico City announced it avoided incurring a cost overrun of over US$511 million for the Mexico-Toluca Interurban Train, a key mobility project that the federal government aims to restart and deliver next year.  

SICT to Restart Abandoned Infrastructure Works

Mexico’s Ministry of Infrastructure, Communications and Transport (SICT) announced its commitment to take up the construction of abandoned infrastructure in Mexico, while highlighting the current administration’s advances in terms of paving works for isolated communities.  

ArcelorMittal to Increase Steel Production by 30 Percent

The Luxembourg-based steel producer ArcelorMittal said it would increase its steel production by 33 percent in the medium term. The goal is to reach a production of 5.3 million tons of steel, said company representatives.  

Water Crisis to Worsen in Near Future: Rotoplas

Mexico-based water solutions company Rotoplas warned that recent droughts in the north of Mexico could worsen in the coming years, affecting companies that are more water-dependent like beer producers and other industrial players. The company associates this potential crisis with a long-standing lack of public investment in water infrastructure projects.  

 

Photo by:   Scott Blake

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