The value of the UK construction market is forecasted by GlobalData to decline by 1.9% in real terms in 2023, having grown by 4.1% in 2022. A key growth market will be the infrastructure market, with output rising by 3.1% 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.
Here are the five largest construction projects initiated in the UK during Q4 2023, according to GlobalData’s construction projects database.
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1. 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.
Construction work started in Q4 2023 and is expected to be completed 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 .
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2. Birmingham Logistic Complex
The project involves the construction of logistic facilities ranging from 1,858m2 to 9,2903m2 on 297ha of land.
Construction work commenced in Q4 2023 and is expected to finish 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.
3. West Midlands Strategic Rail Freight Interchange
The project involves the construction of a 743,224m2 warehousing rail freight terminal on 297ha of land in Staffordshire.
Construction work started in Q4 2023 and is forecast to complete in Q4 2034.
The project aims to build a freight interchange that links directly to the West Coast Mainline and reduces the costs of moving freight and reduces HGV trips on the national and regional road network and provides BREEAM Excellent energy-certified storage and distribution facilities. It will bring £427 million to the local economy and an extra $1,180 million to the national economy. Buy the profile here.
4. A428 Black Cat to Caxton Gibbet Road Improvement
The project involves the upgrade of a 16km dual carriageway between the Black Cat roundabout at St Neots and Caxton Gibbet between Bedfordshire and Cambridgeshire in UK.
Construction work commenced in Q4 2023 and is expected to be completed in Q4 2027.
The project will deliver significant benefits to road users and the local community, improving journeys between Milton Keynes, Bedford, and Cambridge – helping to unlock economic growth in this fast-growing region. It will also create better routes for walkers, cyclists, and horse riders and deliver better connections to St Neots and its train station. Buy the profile here.
5. Fawley Oil Refinery Expansion
The project involves the expansion of a refinery to increase the production of ultra-low sulfur diesel on 1,000ha of land in the Fawley site, located on Southampton Water.
Construction work started in Q4 2023 and is expected to be completed in Q4 2025.
The project aims to enhance refinery capacity by increasing the production of ultra-low sulfur diesel by almost 45% and allowing a wide range of crude oils. It will also create 1,000 construction jobs and reduce the need for UK diesel imports. 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.
