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Singapore's construction demand to be lower in 2012

01-11-2012 13:43 BJT

SINGAPORE, Jan. 11 (Xinhua) -- Singapore's construction demand is expected to be between 21 billion Singapore dollars (16.3 billion U.S. dollars) and 27 billion Singapore dollars (20.9 billion U.S. dollars) in 2012, a senior official said on Wednesday.

The demand for last year was 32 billion Singapore dollars (24.8 billion U.S. dollars), said Tan Chuan-Jin, minister of state for national development and manpower.

Nevertheless, Tan said the construction demand remained strong mainly due to the combination of the volume of contracts awarded over the last two years and the ongoing major civil engineering projects.

He said the demand for 2013 and 2014 is estimated to be between 19 billion Singapore dollars (14.7 billion U.S. dollars) and 27 billion Singapore dollars (21.3 billion U.S. dollars) of contracts to be awarded each year.

Editor:Bai Yang |Source: Xinhua

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