South Africa’s construction industry is not out of the woods yet, despite data pointing to an upward trend.
Construction confidence rose to a new five-year high late in 2013, with construction activity recovering and moderation in tendering competition.
However, the balance sheets of major JSE-listed construction and engineering groups are still showing strain.
The Asia-Pacific region has been a lifesaver for big South African construction firms, including Aveng and Murray & Roberts. Chinese demand for Australian minerals has complemented a boom in oil and gas projects in the region, despite the global recession.
By Mark Allix
Read more comment from major construction companies at: http://www.bdlive.co.za/business/trade/2014/03/04/sa-construction-industry-remains-under-pressure