Asia’s demand for infrastructure is growing, as is the need to manage many related risks factors
The rise of Asia as an economic powerhouse has seen an explosion in the continent’s appetite for infrastructure. The Asian Development Bank (ADB) estimates that about US$750bn worth of new infrastructure investment will be needed each year until at least 2020 to meet the cost of building power plants, roads and water systems, as well as information, communication and telecommunication networks in the region.
Every day across Asia, 20,000 new dwellings, 250km of new roads and six million additional litres of potable water are needed to maintain the region’s growth rate, according to the ADB. So it is no surprise that many large, complex and technically demanding projects are being carried out across the region in a variety of sectors. There are energy, transportation and mining projects, as well as power and utilities projects in electricity, gas, telecommunications, water and even nuclear power generation.
Then there are social infrastructure projects in defence, education, healthcare, prisons, social housing and waste management. They all enter the realms of engineering, finance, politics and public policy and require the effective management of a multitude of risks.