WORLD NEWS
8
TURKEY
Corruption raids
Police enter offices in Istanbul and Ankara over
fraud and bribery allegations.
R
aids have taken place in offices in Istanbul and Ankara, Turkey, over
fraud and bribery allegations in connection with public tenders for
construction projects.
According to local media, 37 people have been questioned including the
sons of three cabinet ministers, the chief executive of Turkish state bank
Halkbank Suleyman Aslan, and real estate tycoon Ali Agaoglu.
Mr Agaoglu is the founding chairman of Agaoglu Group, one of Turkey’s
largest contractors. The company confirmed that Mr Agaoglu had been
called to give a statement, and that a court-ordered search had also been
conducted at its corporate headquarters.
However, it said “no crime or criminal element” had been encountered
during the search.
US
KBR initiates CEO search
Contractor KBR has announced that William P “Bill” Utt will retire from
his role as chairman, president and chief executive officer in 2014.
The board of directors has formed a search committee to identify his
successor. In the meantime, Mr Utt will continue to lead KBR in his current
positions until a new CEO is appointed.
Mr Utt served KBR for more than eight years and leaves to spend more
time with his family. Loren Carroll, KBR lead director, said, “We want to
thank Bill for his commitment and many contributions to KBR. Under his
leadership, KBR has built a strong foundation for growth and navigated
many unique challenges of our industry.
TURKEY
The Emaar Square development in Istanbul is progressing with the
help of Alimak hoists, which are supporting materials and personnel lifting
on site. Emaar Turkey, a division of Dubai-based Emaar Properties PJSC, is
developing Emaar Square – a project set in Camlica, on the Asian side of
Istanbul, which includes seven high-rise towers, a five-star hotel, residential
and business units, a shopping mall, an amusement park, an ice rink, a
2,400-seat cinema complex, and a six-level underground carpark. Sera
Yapi Construction, one of the project’s main contractors is using the hoists
in conjunction with 14 tower cranes to supply all the lifting needs on the
project. Emaar Square will be completed over several phases between 2015
and 2017.
international
construction
january-february 2014
CHINA
CRG president
dies
Bai Zhongren, the president of
Chinese state-owned contractor
China Railway Group, has died
suddenly.
The company, which ranked as
the third largest contractor in the
world in
iC’s
2013 Global Top 200,
with revenues of US$ 74.6 billion,
said Mr Bai died in an accident.
However, local media reported the
53 year-old executive’s fall from a
building as suicide.
China Railway Group said Mr
Bai’s duties would be taken on by
company chairman Changjin Li
in the meantime as it looked for a
sucessor.
The contractor has grown rapidly
since 2008, when its revenues
totalled US$ 23.7 billion, as the
Chinese government pushed ahead
with nationwide rail projects,
including new high-speed lines.
Reports suggest that China
Railway Group amassed large debts
as a result of its expansion.
FRANCE
World of
Concrete
Europe
The planned European version of
the World of Concrete exhibition
will take up part of a hall during the
Intermat 2015 trade show in Paris,
France.
Hanley Wood, the organiser of
World of Concrete in the US, has
partnered with SE Intermat, which
organises the tri-annual Intermat
construction equipment exhibition
in Paris, to launch World of
Concrete Europe.
Intermat will take place from
20 to 25 April, 2015, at the Paris
Nord Villepinte exhibition centre.
World of Concrete Europe will be
situated at the front of Hall 7 of the
exhibition, with a demonstration
area on the plaza outside the hall.
The Intermat Innovation Awards
will now include a new category, the
World of Concrete Europe Award.
World of Concrete takes place in
Las Vegas, US, every year.
SOUTH KOREA
Fines for
metro cartel
South
Korea’s
Fair
Trade
Commission has imposed fines
of KRW 1.32 trillion (US$ 1.26
billion) on 21 contractors it accuses
of collusion in bidding for contracts
on a metro project in the city of
Incheon.
The
contractors
involved
include Hyundai Engineering
&
Construction,
Hyundai
Development Company, POSCO
E&C, GS E&C, SK E&C and
Daewoo E&C.
They are accused of rigging bids
for the 29.3 km Incheon Subway
Line 2 project, which includes 27
stations. Construction started in
2009 and is planned for completion
in 2016.
The contractors are said to
have acted anti-competitively by
colluding to decide which would
submit the most advantageous bids
to construct the metro, with others
submitting low-quality designs.
According to local media, the FTC
plans to refer 15 of the companies
for further investigation.
US
PCA sees 8%
growth
US cement consumption will grow
+8% this year according to PCA
chief economist Ed Sullivan.
Speaking at the World of Concrete
2014 exhibition in Las Vegas, US,
he said the forecast was based on
the loosening of credit availability,
steady and increasing job creation
and decreasing debt burdens.
“At no time in our history has
there been this level of pent up
demand,” Mr Sullivan said.
He added that non-residential
and residential construction will
continue upward gains for the next
three years, with new housing starts
seeing the most activity.
“Housing affordability levels
are still extremely favorable and
mortgage lending standards are
starting to ease,” he said.
“Housing starts increased +18%
last year and will be +18% this
year,” Mr Sullivan added.
