Evaluate competitive risk and success factors Following a loan granted to the Public Work Ministry in 2013, the nation’s road networks are set to be improved Key highlights:- According to the National Statistics Institute (Spanish: Institutor National De Statistic, ‘EN), the construction of new buildings declined from 91,743 units in 2009 to 56,776 units in 2012. Although the economy came out of recession in the third quarter of 2013, the forecast-period outlook for construction in Spain remains moderate due to excess stock of unoccupied houses, low wages and high unemployment. In December 2013, the European Investment Bank (EBB) granted a loan of EURO. O million (US$597. 9 million) to the Public Work Ministry to improve the nations road networks. This loan will sponsor several road infrastructure works such as construction of bypasses, access road, upgrading and widening of national road.
In 2008, Spain entered into recession due to the burst of the property bubble and the increase in unemployment in the country. The Spanish unemployment rate reached 26. 3% in the third quarter of 2013. However, in December 2013, the number of people unemployed fell by 107,570 according to figures released by the Labor Ministry. However, although unemployment is declining, disposable incomes remain Manufacturer’s Association (ACE), new car registrations grew from 699,589 units in 2012 to 722,703 units in 2013, an increase of 3. 3%. With positive developments in the automobile industry, major manufacturers such as Volkswagen and Renault are planning to increase their production capacities.
Daimler plans to invest EURO. O million (IIS$260. O million) to upgrade its van plant in Spain. Increased car sales and rising investment will boost demand for manufacturing plant construction over the recast period. Chemicals and pharmaceuticals is one of the main industries in Spain. According to Business Federation of the Spanish Chemistry Industry (Pique), the chemical industry will grow by 3. 5% in 2014. The growth of the chemicals and pharmaceuticals category will be fueled by the strong pipeline of projects such as upgrade of chemical complex in Tarragon plant by Repose at an expected Investment of EURO. O million (IIS$94. 6 million) between 2014 and 2016.
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