In the first three quarters of 2012, 147 Polish construction firms went belly up, marking the most bankruptcies the sector has seen in five years, reported Rzeczpospolita.
According to professor Zofia Bolkowska from Warsaw's Higher School of Management and Law, 2011 saw 107 construction firms close up shop, while 2010 brought 73 closures and 2009 and 2008 saw 54 and 45 respectively.
“Construction is a sector very vulnerable to the crisis,” said Ms Bolkowska. “It is natural that there are periods of losses and gains in the economy, but the latter are getting shorter,” she added.
She said 2012 is a lost year for the sector, since the losses incurred in the year's first three quarters will be impossible to make up in Q4.
Representatives of building companies in Poland are hoping calls for tenders on projects to be co-financed from EU grants for the years 2007 to 2013 could help return some vigor to the road building sector.
“We're ready to tender the first few projects as early as next year,” said Lech Witecki, head of the General Directorate for National Roads and Motorways. “We have the green light from the finance minister,” he added.
Experts say the industry could yet weather the crisis, pointing to the prime minister's recent announcement about planned investments in road infrastructure worth some zł.40 billion.
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