The current building boom, fuelled by preparations for Cricket World Cup 2007, will likely ’taper off’ within three years, says a leading player in the construction sector. Until then, however, local concrete producers and the only Barbados cement manufacturer expect to continue enjoying the dramatic increase in sales, representing the most solid business they have had in five years.
Speaking at the weekend, Leon Layne, marketing manager, Premix & Precast Concrete Inc. (PPCI), one of eight major commercial concrete makers on the island, said 2006 had been such a busy year for the industry, they were some days concrete producers found it hard pressed to keep up with the massive demand.
It has been a busy year for the (construction) industry including all eight or so players that provide premix concrete. Certainly the World Cup has seen a dramatic increase in the supply of concrete. It is even higher than when the airport and the Hilton and some of Sandy Lane was being done altogether, Layne told the media yesterday at a concrete seminar hosted jointly by his organisation and the Arawak Cement Company Limited at the small business centre at Fontabelle.
It is the highest we have seen in five years or so and we believe that this will stay for another year or so and then taper off later on two (to) three years down the line but commercial activity has been high, as seen by probably the increase demand for bulk cement, he added.