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In real terms, the Romanian construction industry registered limited growth during the review period (2011–2015), due to low investments in construction projects during 2011–2012. Corruption allegations against politicians adversely affected investor confidence. The industry recovered in 2013 owing to the adoption of anti-corruption reforms and gradual improvements in the country’s political conditions. Consequently, the country’s construction industry posted growth of 5.0% in real terms that year.
The industry is expected to expand over the forecast period (2016–2020), driven by improvements in investor confidence and subsequent funding for infrastructure, residential, commercial and industrial projects.
The government’s Transport Master Plan, First Home program and Rural Development Program (RDP) will support industry growth over the forecast period.
The industry’s output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 4.28% over the forecast period; up from 1.42% during the review period.
Over the forecast period, the government’s efforts to improve transport and residential infrastructure will support industry growth. In addition, the government’s aim to develop local energy resources and is expected to support investments in energy infrastructure projects, which will fuel industry growth.
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Timetric’s Construction in Romania – Key Trends and Opportunities to 2020 report provides detailed market analysis, information and insights into the Romanian construction industry including:
• Romanian construction industry's growth prospects by market, project type and construction activity
• Analysis of equipment, material and service costs for each project type in Romania
• Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Romanian construction industry
• Profiles of the leading operators in the Romanian construction industry
• Data highlights of the largest construction projects in Romania
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This report provides a comprehensive analysis of the construction industry in Romania. It provides:
• Historical (2011-2015) and forecast (2016-2020) valuations of the construction industry in Romania using construction output and value-add methods
• Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by project type
• Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)
• Analysis of key construction industry issues, including regulation, cost management, funding and pricing
• Detailed profiles of the leading construction companies in Romania
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• Identify and evaluate market opportunities using Timetric's standardized valuation and forecasting methodologies.
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• Assess business risks, including cost, regulatory and competitive pressures.
• Evaluate competitive risk and success factors.
• To improve transport infrastructure and promote economic growth, the government is planning to implement the transport master plan, which was approved by the European Commission (EC) in July 2015. Under this program, the government announced its intentions to invest RON190.4 billion (US$47.7 billion) to develop road, rail, water and air transport infrastructure until 2030.
• With the aim of achieving self-sufficiency in energy production, the government is planning to invest RON491.0 billion (US$123.0 billion) under the energy strategy 2015–2035. This plan includes investments in energy, oil and gas, and mining infrastructure by 2035. To replace the aging energy production plants, the government is planning to add two new units to the nuclear plant located in Cernavoda, with an investment of RON29.5 billion (US$7.4 billion).
• To develop small-scale rural infrastructure, the government is planning to invest RON36.7 billion (US$9.2 billion) under the RDP until 2020. This includes investments for the improvement of local road infrastructure for agricultural purposes and forestry roads.
• With the aim of improving access to healthcare services, the government implemented the Health for Prosperity (2014–2020) National Health Strategy. As a part of this strategy, it seeks to promote healthcare as a key determinant for the development of economic and social conditions. Under the strategy, community healthcare will become cost-effective.
• The World Bank granted a RON949.2 million (US$283.4 million) loan in March 2014 to help Romania improve and enhance its healthcare system. Effective until 2020, the project aims to improve efficiency, quality and access to public healthcare services by developing hospitals and the healthcare service-delivery network.
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