Business

Sat May 31 01:55:49 PDT 2008

Demand for steel in Singapore remains strong with major construction projects in the pipeline. According to a recently released industry report by UBS Investment Research, the typical Singapore construction up-cycle lasts between five to eight years and Singapore is currently in year three of another long-tailed cycle.

New construction initiatives announced by the government include major projects, such as the new Sports Hub, targeted for completion in 2011; MRT extension lines, new expressways (North-South Expressway and Marina Coastal Expressway) and the newly announced University Town, targeted for completion in 2010, are expected to boost the construction industry for the coming years.

Moreover, HG Metal Mfg Ltd, one of the largest steel stockist in Singapore and Southeast Asia, has completed three new warehouse complexes at at Jalan Buroh and the construction of additional three warehouses at Jurong Port Road is scheduled to commence during the second quarter of this year to cope with higher sales volume.

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