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Tenders for Public Works Fall 58% in the First Two Months of 2018

2 April 2018

The total amount of public works tenders that went on the block in January and February of this year totalled 178 million euros, 58% less than in the same period of 2017, the construction industry association announced today.

In February, there were 96.7 million euros tendered in contracts for public works, “the second consecutive month with cumulative negative changes in the volume of tendered public works, something that had not occurred since December 2015, more than two years ago,” the association reported.

According to the Association of Civil Construction and Public Works Industries’ (AICCOPN) barometer of public works, the total number of contracts awarded in the framework of public tenders which were reported to the Public Works Observatory in the first two months of this year totalled 140 million euros. The figure is 12% less than in the same period in 2017.

“Although the decrease in contracted volumes is significantly lower than that of the opened tenders, the gap between them remains quite significant, surpassing 1.5 billion euros over the last 12 months, i.e. only one euro of public works were contracted for every € 2.29 of announced tenders,” the association stated.

The contracts signed by direct agreement totalled 81 million euros in the first two months of the year, 1% higher than in 2017.

Altogether, the total volume of contracts concluded in this period was €226 million, down 13% on a year-on-year basis.

Original Story: Lusa / Diário Imobiliário

Translation: Richard Turner