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Singapore to award infrastructure contracts of $5.9 bn in ‘08

Singapore to award infrastructure contracts of $5.9 bn in ‘08
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First Published: Mon, Apr 14 2008. 03 33 PM IST
Updated: Mon, Apr 14 2008. 03 33 PM IST
AP
Singapore: Contracts worth $5.9 billion have been awarded by Singapore for building and other infrastructure projects this financial year, according to an announcement made by the government today.
Most of the contracts are for construction projects and are worth $4.3 billion. They have been planned for the year ending March 2009. Remainder contracts total $1.6 billion and are for goods and services and spending on information technology.
The ministry said another $2.2 billion in projects will be deferred to later years to avoid putting further strain on the city-state’s tight construction capacity.
Putting off the construction spending marks an effort to limit price pressures on the island, where a pickup in real estate costs recently helped drive inflation to a 25-year high.
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First Published: Mon, Apr 14 2008. 03 33 PM IST