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Seeking Greener Pastures Large International Contractors, Particularly from Europe, Are Seeking New Markets in Asia and the Americas by Peter Reina and Gary J

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Seeking Greener Pastures Large International Contractors, Particularly from Europe, Are Seeking New Markets in Asia and the Americas by Peter Reina and Gary J Overview p. 2 // International Market Analysis p. 2 // Past Decade’s International Contracting Revenue p. 2 // International Region Analysis p. 3 // 2012 Revenue Breakdown p. 3 // 2012 New Contracts p. 3 // Domestic Staff Hiring p. 3 // International Staff Hiring p. 3 // Profit/Lossp. 4 // 2012 Backlog p. 4 // Top 10 by Region p. 4 // Top 10 by Market p. 5 // Top 20 non-U.S. International Construction/Program Managers p. 6 // Top 20 non-U.S. Global Construction/Program Managers p. 6 Massive Abu Dhabi Gas Project p. 7 // Chinese Contractors Thriving in Global Market p. 7 // How Contractors Shared the 2012 Market p. 8 // How To Read the Tables p. 8 // Top 250 International Contractors List p. 9 // International Contractors Index p. 14 // Top 250 Global Contractors List p. 15 // Global Contractors Index p. 20 NUMBER45 AMAZONIA Grupo Isolux Corsan is building 740 miles of high-voltage power lines in Brazil’s state of Amazonas, including two 965-ft-tall pylons used to cross the Amazon River. PHOTO BY ISOLUX CORSAN ISOLUX BY PHOTO The Top 250 International Contractors Seeking Greener Pastures Large international contractors, particularly from Europe, are seeking new markets in Asia and the Americas By Peter Reina and Gary J. Tulacz enr.com August 26/September 2, 2013 ENR 1 THE TOP 250 INTERNATIONAL CONTRACTORS OVERVIEW 23.4% 25.6% Petroleum Transportation $119.773.48 $130,710.12 Int’l Market Analysis Buildings $103,260.34 20.2% 10.2% Power $51,902.29 3.0% 0.4% 1.4% Water 8.2% 1.1% Hazardous Sewer/Waste $15,406.92 Industrial $7,172.81 4.9% Waste Telecom $42,115.99 $2,084.80 $5,757.23 Other Manufacturing $24,914.40 $7,953.58 1.6% (Measured $ millions) Source: McGraw Hill Construction Research & Analytics / ENR. Comparing the Past Decade’s International $139.8 $167.5 $189.4 $224.4 $310.3 $382.4 $383.8 $383.7 $453.0 $507.5* Contractor Revenue 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 (in $ billions) Source: McGraw Hill Construction Research & Analytics / ENR. *The 2012 figure is for the Top 225 International Contractors. The Expanded Top 250 list firms had a combined revenue of $511.1 billion. Large international contractors are scrambling for a total contracting revenue of $1.32 trillion. work amid stagnant markets in Europe and the U.S., For year-to-year comparisons, the only revenue while other fertile markets in the developing world, considered was from this year’s 225 largest interna- such as North Africa, are mired in political upheaval. tional contractors. This year’s top 225 had interna- However, contractors are finding opportunities in tional revenue of $507.50 billion in 2012, which other regions, and most are holding their own even in represents a 12.0% increase over the $453.02 billion “The entire depressed markets. But it means more contractors are from last year’s Top 225. ASEAN zone is testing new waters in the international marketplace. a growth area On a regional basis, Canadian projects are the big The growing number of contractors finding success for our winner, with a 33.6% increase among this year’s Top in new global spots helps explain why ENR has decided companies, in 225 list. International contracting revenue also was up to expand its list of top international contractors. Now, particular 23.0% in Asia and Australia, 22.0% in Latin America, Vietnam, the list includes 250 top firms, up from 225, in recog- 20.0% in the U.S. and 9.0% in the Middle East. Indonesia, nition of the growing number of contractors flourish- Burma and Not surprisingly, contracting revenue for the Top ing in the international marketplace. (The ENR Top Malaysia.” 225 contractors was relatively flat in financially International Contractors list had been a Top 250 list Jean Rossi, strapped Europe, rising only 0.3%. And while con- until 1991, but it was cut back to a top 225 list in 1992.) President, Vinci tracting revenue rose 2.5% in central and southern On the Top 250 International Contractors list, Construction Africa, it fell 10.5% in strife-torn northern Africa. firms are ranked based on contracting revenue from S.A. projects outside of their home countries, measuring ‘New World’ Opportunities their presence in international commerce. ENR also With European markets working through a prolonged has expanded its Top 250 Global Contractors list, stagnation, many large European contractors are which ranks contractors based on total worldwide con- recasting their strategies. U.K.-based Balfour Beatty tracting revenue, regardless of the projects’ locations. plc, for example, is combining the design and manage- The ENR Top 250 International Contractors had ment skills of its U.S.-based Parsons Brinckerhoff $511.05 billion in contracting revenue in 2012 from subsidiary with the capabilities of its existing invest- projects outside their home countries, along with ment, construction and operations units to offer full $813.55 billion in revenue from domestic projects, for life-cycle services, says CEO Andrew McNaughton. enr.com August 26/September 2, 2013 ENR 2 CONSTRUTORA NORBERTO ODEBRECHT’S “Acreditar” THE TOP 250 INTERNATIONAL CONTRACTORS #12 (“Believe”) program has helped train OVERVIEW 160,000 workers in 25 countries. Int’l Region Analysis 27.2% 17.9% Asia and Middle Australia Revenue (in $ billions) East $138,814.23 $ 6.7% 91,318.09 $1,324.6 Domestic Revenue % 9.2% 20.0 4.4% South and International Revenue Europe $813.6 Central Africa Latin North $102,262.94 Total Revenue America $ Africa $34,492.53 511.1 $47,220.80 $22,372.40 8.6% % Source: McGraw Hill Construction % 5.4 0.5 United Research & Analytics / ENR. Caribbean Canada $27,492.81 States Islands $44,106.44 $2,795.29 New Contracts (in $ billions) $1,585.3 Domestic New Contracts Int’l New Contracts $998.2 Total New Contracts $587.1 (Measured $ millions) Source: McGraw Hill Construction Source: McGraw Hill Construction Research & Analytics / ENR. Research & Analytics / ENR. Professional 97 Professional 96 Increase (Measured in Domestic 34 International 27 Decrease firms reporting) Staff Hiring Staff Hiring 67 56 Stayed the Same Source: McGraw Hill Construction Research & Analytics/ENR. As part of that strategy, Balfour Beatty is selling its U.S. “Additional gas supply volumes at lower prices rail engineering business in European countries where are making the North American gas market really ap- it has no other businesses. “You have to be in more than 222 pealing for large downstream investments in each of of the Top 250 one sector,” explains McNaughton. our business units: oil and gas, petrochemicals and sent in surveys France’s Bouygues Construction SA also is develop- fertilizers,” says Chairman Fabrizio Di Amato. last year. ing “skills and businesses over the longest possible The U.S. market “has definitely gone up,” attract- value chain” to boost local and international business, ing increasing competition from European firms, says says chairman and CEO Yves Gabriel. He attributes 66.7% Johan Karlström, CEO of Sweden-based Skanska. The his firm’s win of a share in a $515-million real estate had increased European presence in the U.S. has grown substantially development contract in Miami to its strategy of international through local acquisitions, he adds. “positioning ourselves on complex, high-value-added revenue in projects.” Bouygues used its presence on a public- 2012. European Blues private partnership (PPP) for the Miami Port tunnel Europeans’ interest in the U.S. stems partly from the project to gain entry to the U.S. market, which is at- more difficult conditions on their side of the Atlantic. tracting increasing numbers of European-based firms. 32.9% “Investment capacity in Eastern Europe is suffering The U.S. “is probably going to become our target had lower from a reduction in European Union funding and construction market at the end of the year” as con- international stricter national budget constraints,” notes Gabriel. struction demand picks up in regional markets, says revenue in But demands for infrastructure “offer good prospects McNaughton. As a “stable, resource-driven market,” 2012. in the medium term.” Canada remains a key focus for Balfour Beatty, he adds. In Eastern Europe, Bechtel Inc. is targeting major “In all likelihood ... many major projects will be highways following successful large contracts in coun- launched in the United States,” says Jean Rossi, presi- tries, including Albania and Kosovo, says Peter dent of Paris-based Vinci Construction SA. Vinci is Dawson, president of London-based Bechtel Civil working on the road, bridge and tunnel Ohio East End Infrastructure. But “the opportunities are scarcer than Crossing PPP projects between Kentucky and Indiana. they once were,” he adds. Italy’s Maire Tecnimont is particularly interested in Bechtel’s Eastern European experience is not all the shale oil and gas developments under way in the good. Because of limited government budgets, Bechtel enr.com August 26/September 2, 2013 ENR 3 THE TOP 250 INTERNATIONAL CONTRACTORS OVERVIEW The Top 10 by Region 1 ASIA 2 EUROPE 3 MIDDLE EAST Top 10 Revenue: $74,214.8 Mil. Top 10 Revenue: $68,365.0 Mil. Top 10 Revenue: $38,757.3 Mil. RANK RANK RANK 2013 2012 Sector’s Revenue: $138,814.2 Mil. 2013 2012 Sector’s Revenue: $102,262.9 Mil. 2013 2012 Sector’s Revenue: $91,318.1 Mil. 1 1 HOCHTIEF AG 1 1 STRABAG SE 1 3 SAMSUNG ENGINEERING CO. LTD. 2 2 GRUPO ACS 2 2 VINCI 2 4 HYUNDAI ENGINEERING & CONSTR. CO. LTD. 3 3 BECHTEL 3 4 SKANSKA AB 3 10 DAELIM INDUSTRIAL CO. LTD. 4 5 FLUOR CORP. 4 3 FCC, FOMENTO DE CONSTR.
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