Engineering & Construction

Three years of buoyant project activity have brought both prosperity and problems for the engineering and construction (E&C) industry. Capital investment is high across the industry as is demand for E&C services. However, rising costs for E&C equipment and materials, especially steel, coupled with labor shortages have led to escalating project costs, stretched delivery times, and, in some cases, project cancellations, E&C firms say. Such conditions are expected to continue through 2008 at least. While some chemical and oil and gas companies have...

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