Online research website Research and Markets is offering a new report titled “Gabon Infrastructure Report Q2 2012”.
Gabon in West Africa has not been able to generate necessary investments despite producing an output of 250,000 b/d of oil in 2011. Infrastructure projects in the country are dependent on foreign funding and governmental assistance for development. For the forecast period of 2021, the construction industry of the country will see very little expansion and low growth value.
Major developments that have recently occurred in the country include ECOBANK of Libreville and BDEAC Bank providing funding to Indian infrastructure firm RPP Infra Project for the first phase construction of a housing project in Gabon at a cost of EUR250 million. According to BMI, Gabon will continue to depend on governmental assistance for the growth of its construction industry. Foreign investments in Gabon are presently being led by France with other bilateral ties occurring with India and China recently. Projects include the PR1 highway project being awarded to Chinese company Sinohydro.
Political instability is also one of the major reasons for slowdown on investments. During August 2011, President Ali Bongo Ondimba dissolved the main opposition party. During this time the country recorded a GDP growth of 4.5%. However according to BMI, this growth will continue to decline beyond 2014 since oil output from mature fields will continue to decrease.
Source: http://www.researchandmarkets.com