Construction Industry Is At The Heart Of Alabama’s Economic Recovery (opinion From Jay Reed)

Orocobre Limited: Construction Update on the Olaroz Lithium construction companies hiring Project

“We’re better, but we’re not well. We’re still hugging the debt limit,” he said. The state borrows money to pay for construction projects through bond sales to investors, with the debt paid off with interest over decades. Nichols said without more borrowing, the money to pay for general construction projects will run out by January’s end, and the state transportation department’s road work fund will run dry after March. The funding crunch stemmed from lawmakers and governors approving more than $1 billion more in lines of credit for construction work over the past decade than they had borrowed or appropriated money to pay for. Worsening the problem, stagnated state income and the economic downturn kept the debt cap lower than expected, limiting borrowing. A state revenue uptick has been the chief driver in improving the situation.

“The estimated cost of the project is Rs 9.55 crore and we have recently sent the proposal of Rs 13.5 crore to the central government considering the cost-overrun during the work period. The construction of the bridge will be completed in two years from now. The bridge will be a part of NH-204 connecting Kolhapur and Ratnagiri,” added Katakdhond. The existing Shivaji Bridge is a beautiful example of British architecture. It has arch shaped pillars and galleries on both sides where pedestrians can wait in case of a traffic jam. The bridge was constructed when the princely state of Kolhapur was ruled by a minor – Chhatrapati Shivaji IV.

The evaporation pond lining program is on schedule. Other notable events are as follows: — Water supply wells have been completed — Camp has been completed and is operational — The construction and fit out of the laboratory has been completed — Erection of the lime plant is more than 50% complete — The engineering design of the lithium carbonate plant has been completed and the lithium carbonate plant is under construction — The final stage of the roadworks is nearing completion — The gas supply and distribution system are 90% complete The project continues to proceed on time and within budget. A total of approximately US$133m has been spent or committed via executed contracts in the construction project to date. To view the photos accompanying this press release, please visit the following link: More images are available on our web page under “Gallery”. Please click here for the most recent images:

As the result of increasing local investments and the initiation of numerous new projects, local firms have seen evidence of this growing confidence in Alabama’s construction industry. A recent Consumer Confidence Index saw a surge in confidence in the economy during the first half of 2013. This CCI reflects three aspects of the U.S. nonresidential construction industry: sales prospects, profit margins and staffing levels. Both sales and staffing level expectations rose from the second half of 2012 to the first half of 2013, reflecting the ongoing economic recovery. While government-funded work has been steady during the economic downturn, the fact that local money is again beginning to be invested in projects gives us confidence that we have turned the page.


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