The construction market in Europe is forecasted by GlobalData to decline by 2.8% in real terms in 2023, having grown by -2.8% in 2022. A key growth market will be the infrastructure market, with output rising by -2.8% in real terms. GlobalData tracks and profiles all major construction projects from announcement to completion. For further insight on this market, buy the latest profiles here.

Driving growth in the market in 2022 and over the remainder of the decade are a potential 135 mega projects in Europe, costing over $100m each.Here are the five largest construction projects initiated in Europe during Q4 2023, according to GlobalData’s construction projects database.

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1. Paks II Nuclear Power Plant Expansion 2400 MW

The project involves the construction of two nuclear power plant units with 1,200MW capacity each in Budapest, Hungary.

Construction work started in Q4 2023 and is expected to be completed in Q4 2030.

The aim of the project is to expand the existing nuclear facilities and to meet the growing demand for power in the country.

2. Inch Cape Offshore Wind Farm 1100 MW

The project involves the construction of a 1,100MW offshore wind farm on an area of 2.6 ha of land at the Firth of Tay in the North Sea, Scotland, the UK.

Construction work commenced in Q4 2023 and is expected to finish in Q4 2025.

The project aims to generate 784MW of clean energy and a potential yield of over 2,000 GWh per year to power 1.1 million homes. It will also provide 1,600 job opportunities including 450 construction jobs .

3. Brasov to Sibiu Motorway

The project involves the construction of a 68 km motorway from Brasov to Sibiu in Romania.

Construction work started in Q4 2023 and is forecast to complete in Q2 2027.

The project aims to reduce traffic congestion and improve security for the movement of passengers and freight between Brasov and Sibiu. It will reduce travel distance and time between the two places. Buy the profile here.

4. Cluj Napoca – Oradea – Episcopia Bihor Railway Line Upgrade

The project involves the upgrade of 166.2km Cluj Napoca – Oradea – Episcopia Bihor railway line in Romania.

Construction work commenced in Q4 2023 and is expected to be completed in Q4 2026.

The project aims to provide better infrastructure that will allow maximum speeds between 100 km/h and 160 km/h, which will reduce the average travel time and to enhance the economic growth of the region. Buy the profile here.

5. Birmingham Logistic Complex

The project involves the construction of logistic facilities ranging from 1,858m2 to 9,2903m2 on 297ha of land.

Construction work started in Q4 2023 and is expected to be completed in Q1 2034.

The project aims to provide logistic facilities to the industries in the region. It will create 8,500 direct jobs and 8,100 indirect jobs. Buy the profile here.

For more details on the latest construction projects, buy the profiles here.

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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.

GlobalData’s Construction Projects database tracks over 220,000 new construction projects valued at >$25m from announcement to completion across all countries and sectors.