Friday, April 13, 2012

Top Story

$53 trillion in transport infrastructure needed by 2030, study says

Over the next 20 years, countries worldwide will need to invest $53 trillion in transportation infrastructure, according to a new report released by the Organisation for Economic Cooperation and Development (OECD). The study, sponsored by global management consulting firm Oliver Wyman, asserts that more than $11 trillion will be needed to develop and upgrade ports, airports and rail routes.

Reportedly, by 2030, the volume of TEUs handled through ports could quadruple, airfreight could triple and air passenger traffic could double. However, transport infrastructure currently in place would be overwhelmed by even a 50 percent increase in demand, according to the infrastructure needs study.

The OECD report goes on to say that the highest investment, $17.7 trillion, should go toward improving marine infrastructure over the next 20 years. The next highest investment should be made in telecom, to the tune of $10.9 trillion, according to the OECD.

Other needs by 2030, according to the study, include a $7.5 trillion investment in roads, and $6 trillion for electricity infrastructure. Asia has the most money planned for airport investment, at $135 billion, followed by North America at $128 billion.

“Better risk management of large investment projects could free-up $5 trillion, or about 10 percent of total required infrastructure investments, for other purposes by minimizing cost overruns and delays,” said Alex Wittenberg, head of the Oliver Wyman Global Risk Center.



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