Nicaragua: Construction Plans to Recover in 2011

The construction sector expects this year to be close to 2009 levels and projects growth for 2011.

Monday, November 8, 2010

In 2008 the sector contributed to Gross Domestic Product (GDP) $ 420 million, in 2009 fell to $ 330 million. Mario Zelaya, president of the Nicaraguan Chamber of Construction, said they expect the 2010 figure to be close to 2009 and projections for 2011 is $ 400 million.

Zelaya told Laprensa.com.ni that, "the beginning of important projects such as Tumarín, Guacalito Island, Hotel Express and Blue Power, plus the continuation of housing projects next year will allow the sector to recuperate, assuming we implement one third of these 115 million (first stage of Guacalito Island) in 2011, we have more than 35 million which were not present in 2009 and 2010'"

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