RoadWorks: Privatization Report: Some Ups, Some Downs
The global construction, engineering and infrastructure industry saw a significant decline in fraud activity with companies losing an average of $6.4 million over the last three years, according to the latest edition of the Kroll Annual Global Fraud Report. This new figure represents less than half of last year’s amount of $14.2 million.
Construction, engineering, and infrastructure companies registered a below average loss compared to other sectors, with the financial services industry being hit hardest by fraud over the past 12 months. The findings are the result of a survey Kroll commissioned from the Economist Intelligence Unit of more than 700 senior executives worldwide.
While the construction industry experienced a slowdown in fraud, this was not the case in every industry. In fact, despite the most challenging global economic conditions in recent history, the report revealed that across ten industries, fraud activity worldwide remained steady in 2009. On average, companies lost $8.8 million to fraud over the past three years, up just seven percent on last year’s figure of $8.2 million.
Although fraud losses are down in this year’s survey for construction companies, the prevalence of the problem is not declining at nearly the same rate. More than nine out of ten (91 percent) companies reported being hit by some form of fraud over the past three years, down slightly from last year’s figure (95 percent) but still well above the survey average (85 percent).
Bridges in Hong Kong
Efficient Design, Construction and Maintenance of Asia’s Modern Bridge Systems is the official title of the Bridges Asia Conference February 04 – 05, at the Intercontinental Grand Stamford, Hong Kong.
The event includes:
Focused technical presentations and workshops
Comprehensive coverage of bridge infrastructure
Specific case studies on ongoing projects
Interactive discussions including expert led panels and roundtables
Presence of prospective buyers and current clients
There will also be a number of workshops including, How to incorporate durability and life cycle cost analysis into long span bridges; How to enhance structural integrity in the design of long span bridges; and How to ensure sustainability within the construction of long span bridges.
Some of Asia’s most prominent bridges and bridge projects will be examined at the conference, including:
The Hong Kong Zhuhai Macau Bridge, a proposed series of bridges and tunnels that will connect the west side of Hong Kong to Macau and the mainland Chinese city of Zhuhai. The 18 mile bridge is expected to cost US$ 5.47 billion with construction set to start in 2011.
Stonecutters Bridge, Hong Kong, at the entrance to the busy Kwai Chung container port, is the longest bridge of its type in the world with an overall length of one mile.
Sutong Bridge, China, claims to be the world’s longest span cable-stayed bridge, a 3.5 mile long link between Nantong City and Changshu
Bandra-Worli Sea Link Bridge, India, one of that country’s most complicated civil engineering projects.
To find out more, go to www.bridges-asia.com
Road Deaths Down
Fatalities on U.S. roads have been steadily declining since a recent peak in 2005, according to an early estimate from the National Highway Traffic and Safety Administration (NHTSA) of motor vehicle traffic fatalities for the first half — January through June — of 2009.
NHTSA’s report — released in mid-October — finds that 16,626 people died in traffic crashes during the first six months of this year, a 7 percent decline from last year during the same period. Last year, 17,871 fatalities occurred in the first quarter of 2008. Fatalities declined by about 10 percent in the first quarter and declined by about 4 percent in the second quarter of 2009, as compared to the respective quarters in 2008, according to the NHTSA report. The second quarter of 2009 will be the 13th consecutive quarter of declines in fatalities, NHTSA finds.
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