Hyundai Development Co Engineering & Construction (012630.KS)
Most of these companies are registered on the cidb Register of Contractors which grades and categorizes contractors on capability to carry out construction projects. The cidb Code of Conduct for parties engaged in construction procurement prohibits contractors from ‘engaging in collusive practices that have direct or indirect adverse impacts on the cost of the project to the employer’. In its report to the PPC today the cidb said it was in the process of appointing an investigative team to kick start an investigation and action in terms of its mandate. It is also studying the consent agreements signed between the Competition Commission and the contractors concerned. Welcoming the outcome of the Competition Commission investigation in June 2013, the cidb Acting CEO Hlengiwe Khumalo described collusion as exclusionary by its very nature and has the impact to undermine development and transformation in the construction industry. She said the cidb intends to follow the substance and process of the law as outlined in its prescripts in dealing with the collusion case and does not wish to pre-empt the outcome of the formal inquiry. The companies will be investigated in terms of the cidb Code of Conduct and the Construction Industry Development (CID) Regulations of 2004 as amended.
Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here .
Construction firms report dearth of qualfied workers
The project will also let eastern Canadian refineries replace 700,000 bpd of imported crude with less expensive Western Canadian oil. While environmental groups oppose the project, the Canadian government supports the concept of a pipeline to the Atlantic coast. Joe Oliver, Canada’s minister of natural resources, said the line would contribute to the “energy security” of North America. “Replacing higher-cost foreign crude with lower-cost Canadian crude for refineries in Quebec and Atlantic Canada would protect and increase job opportunities in the refinery sector and ensure a competitive fuel supply for consumers,” Oliver said in a release. TransCanada will convert 3,000 kilometers of an underutilized natural gas mainline system to carry crude oil through Saskatchewan to Cornwall, Ontario, near the Quebec border, a move that has some critics worrying that eastern Canadian natural gas supplies could be squeezed during a cold winter.
Inventory has tightened and home prices have risen as demand has increased in many regions and foreclosures have fallen off from their recent record highs. Given the shrinking inventory of available homes and the growing demand by home buyers, it stands to reason that home builders would be hiring more workers to help fill the void. But they didnt in August, according to data released Friday by the U.S. Department of Labor. Employment in other major industries, including mining and logging, construction, transportation and warehousing, financial activities, and government, showed little or no change in August, the government reported. Analysts said the construction sector is simply mirroring whats happening across an array of industries that have cut back on personnel in the wake of the 2008 financial crisis and deep recession that followed: construction companies are trying to be more productive with fewer workers.
TransCanada: Energy East pipeline construction to create 10,000 jobs
He noted that 48 percent of responding firms are mentoring future craft workers, 38 percent are participating in career fairs and 33 percent are supporting high school-level construction skills academies. In addition, 47 percent of responding firms are offering internships for construction professionals. Sandherr cautioned that more needs to be done to address labor shortages. He said Congress needs to jettison arbitrary caps on construction workers that were included in immigration reform the Senate passed earlier this year. Lifting those restrictions will go a long way to ensuring construction jobs left vacant by domestic labor shortages go to workers who are in the country legally. He urged elected and appointed officials to do more to ensure public school students have an opportunity to participate in programs that teach skills like construction. He added that skills-based programs offer students a more hands-on way to learn vital 21st century skills such as math and science.