"Czech Republic Infrastructure Report Q2 2016" now available at Fast Market Research

Our forecasts for the Czech construction and i nfrastructure sector remain steady this quarter , with marginal growth of 3.4% for 2015 and 2.9% for 2016 . After struggling with underfunding for many years, the transport sector is enjoying EU-driven investment into its four trans-European transport corridors, which will sustain growth, particularly in the rail and roads sub-sector s , in the medium term. Residential and non-residential construction are further bright spots, with investor sentiment improving, house prices rising and new construction starts on the rise.

Latest Updates And Structural Trends

In the Czech Republic, growth will be driven mainly by dynamic private consumption in 2016 and will be sustained by gradually increasing exports and capital expenditures, although the latter will be hindered by geopolitical instabilities. Robust household disposable incomes, decreasing unemployment, low inflation rate and the increasing trade ties with neighbouring Germany and Austria are the main reasons for the country's growth in the coming years.

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Over the coming years we expect the EU's EUR63.4bn transport-focused Cohesion Fund to play a central role in financing Central and Eastern European (CEE) infrastructure. In late 2013, the European Council officially adopted the EU's multi-annual financial framework for 2014-2020, setting the parameters for the Cohesion Fund and Connecting Europe Facility, which will support the funding of the TEN-T transport corridors and the TEN-E energy networks. The projects included in the TEN programmes have a heavy weighting towards the less developed networks in CEE.

In January 2016, the Minister of Industry and Trade Jan Mladek stressed the necessity for a resolution of the spat with the independent energy regulator, ERU, which was threatening to stall payment of around CZK42bn in renewables subsidies for 2016 unless it was given sufficient assurances that objections from the European Commission would not be raised (Radio Prague, 2016).

On January 4, 2016, CEZ announced a sharp decline in electricity generation from its two nuclear plants (i.e. Dukovany and Temelin) in 2015. The total net production from the two plants last year came to 26.83 TWh compared with around 30.32 TWh in 2014 (Radio Praha, 2016).

Czech Prime Minister Bohuslav Sobotka said a call for bids for a new unit of the country's Dukovany Nuclear Power Station will be announced by end-2016. 'The government intends to install a new unit in each of the Czech nuclear power plants - Temelin and Dukovany. Construction of the first unit will begin in Bohunice [in western Slovakia] since it is much older than Temelin,' said Sobotka (Sputnik News). Westinghouse Electric Company, Rosatom and Areva, among other firms, are expected to place their bids for the new unit.

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