The construction market in South and Central America is forecasted by GlobalData to grow by 1.6% in real terms in 2024, having grown by 1.6% in 2023. A key growth market will be the infrastructure market, with output rising by 1.6% in real terms. GlobalData tracks and profiles all major construction projects from announcement to completion. For further insight on this market, buy the latest profiles here.
Driving growth in the market in 2022 and over the remainder of the decade are a potential 135 mega projects in South and Central America, costing over $100m each.Here are the five largest construction projects initiated in South and Central America during Q3 2024, according to GlobalData’s construction projects database.
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1. Amigo LNG Terminal Development
The project involves the construction of an LNG terminal with a processing capacity of 7.8MTPA in Guaymas, Sonora, Mexico.
Construction work started in Q3 2024 and is expected to be completed in Q2 2026.
2. Angra 3 Nuclear Power Plant 1405 MW
The project involves the construction of a nuclear power plant with a generation capacity of 1,405MW on an 82,000m2 area in Central Nuclear Almirante Álvaro Alberto Complex (CNAA), Angra dos Reis, Rio de Janeiro, Brazil.
Construction work commenced in Q3 2024 and is expected to finish in Q4 2031.
The aim of the project is to meet the growing energy demand in the region. Buy the profile here.
3. Santos Basin Oil Field Development
The project involves the development of an oil and gas field in Santos Basin pre-salt, offshore Brazil.
Construction work started in Q3 2024 and is forecast to complete in Q4 2027.
The main objective of the project is to enhance oil and gas production potentials in Brazil and to improve the environmental conditions by eliminating flaring. Buy the profile here.
4. Oleoducto Vaca Muerta Sur
The project involves the laying of a 700km oil pipeline with a 60,000M3/day transport capacity, equivalent to 372,000BPD between Añelo Municipality in Neuquén province, at the port of Punta Colorada in Río Negro Province, Argentina.
Construction work commenced in Q3 2024 and is expected to be completed in Q4 2033.
The project’s main objective is to increase the oil transportation capacity and meet the growing demand in the region. Buy the profile here.
5. Belo Horizonte Metro Line Expansion
The project involves the expansion and modernization work of metro lines in Belo Horizonte, Minas Gerais, Brazil.
Construction work started in Q3 2024 and is expected to be completed in Q4 2029.
The construction of the Belo Horizonte Metro started in the 80s by the federal government, taking the route of the old railway line, segregating in parallel lines and cargo transport. Buy the profile here.
For more details on the latest construction projects, buy the profiles here.
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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.
GlobalData’s Construction Projects database tracks over 220,000 new construction projects valued at >$25m from announcement to completion across all countries and sectors.
