17.01.2021
Strabag: The Hungarian subsidiary of European-based construction group Strabag has been awarded a new infrastructure contract in Hungary with a volume of Euro 245.58 mn. The S-D 2020 M6 consortium, consisting of STRABAG Építő Kft. (50.12 %) and Duna Aszfalt Zrt., will complete the 20 km gap of the M6 motorway between Bóly and Ivándárda on the Croatian border. The project is scheduled to be completed within 36 months. “Closing this gap creates a new border crossing with Croatia as part of the Hungarian motorway network. This will significantly reduce the travel time for international passenger and road freight traffic,” says Strabag CEO Thomas Birtel.
This article is extracted from the report Construction Megatrends
Covid-19 has led to a paradox for global markets. While significant liquidity is available at historically low interest rates, poor economic conditions and an uncertain outlook do not see an equitable distribution of funds to various, and perhaps essential industries.
This has resulted in untapped pools of liquidity that, in theory, construction companies, or their paymasters, could draw upon to help support contracting operations through the slowdown. But in reality, contractors and their suppliers will find it difficult to access these funds due to their vulnerability to payment delays or, in the case of smaller entities, lack of financial reserves.