New Construction market report from Business Monitor International: "Cameroon Infrastructure Report Q4 2013"
Boston, MA -- (SBWIRE) -- 10/23/2013 -- Cameroon's construction sector faces favourable conditions over the medium term as the government continues to prioritise infrastructure investment as part of its 10-year economic plan. Upside potential comes from the government's 20-project public-private partnership (PPP) plan, which includes projects across the construction sub-sectors. We have marginally upgraded our medium-term growth outlook, with average annual growth of 6.5% forecast between 2013 and 2017, and further upside, depending on project progress.
Cameroon's construction sector is expected to post strong growth, regardless of the success of its PPP programme. The government is reinvesting oil wealth into infrastructure. At the same time we are seeing heavy industry companies taking a build-your-own approach to necessary infrastructure. Heavy investment into expanding cement capacity indicates the scale of the infrastructure build-up and the expectations of continued growth. Expanding local cement supplies should also help to bring down industry costs, which have been highly volatile.
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Partially priced in, and posing significant further upside potential, is a list of 20 PPP projects announced by Cameroon's Ministry of Economy, Planning And Regional Development (MINEPAT). The projects, which range from transport, to social and industrial infrastructure, are hoped to be developed over the course of 2013. Contracts will be offered on a build-operate-transfer (BOT) basis. Cameroon has been legally authorised to offer PPPs since the PPP Act was passed in 2006; however, this would be the biggest single PPP programme to-date in the country.
If successful, it would provide further upside to our already bullish forecast, which sees Cameroon's construction sector returning to growth of 7.1% in 2013, following a 2.8% contraction in 2011. A number of new and ongoing projects are supporting this outlook:
- In May 2013 it was reported that trials had begun on the Kribi gas-fired power plant after constriction had been completed. All supporting infrastructure is complete at the power plant, including a new 100km transmission line linking to Edea. Once operational, the power plant will add 216 megawatts (MW) to existing capacity.
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