MARKET INSIGHT | ASIA-PACIFIC
South-East Asia – Industrial construction project pipeline, projected spending Value by stage ($ millions)
120,000 100,000 80,000 60,000 40,000 20,000 0
2022 2023 2024 2025 2026 2027 2028 Pre-planning Planning Pre-execution Execution Construction complete Note: Based on assumption that all projects proceed as planned and that spending is evenly distributed during the construction phase. 2029
South-East Asia – Industrial construction project pipeline By sub-sectors ($ millions)
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000 Chemical and pharmaceutical plants Manufacturing plants Metal and material production and processing plants Waste processing plants
MENA – Industrial construction project pipeline Funding mode (% of total)
Public/private 3%
Public 8%
450,000
500,000
Private 89%
42 | July 2025 |
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In South-East Asia, current industrial projects are valued at $474.9bn according to GlobalData’s tracking, including projects from announcement to execution stages. The region’s overall pipeline is relatively less developed, with 62.4% of projects in the pre-planning, totalling $296.3bn. If we assume that all projects move ahead as scheduled, spending will increase from $49.9bn in 2025 to $97.6bn in 2026. The largest project under way in this region is the $28bn Tanah Kuning Industrial Park Integrated Ferronickel Complex project, currently in the planning stage. Tsingshan Holding Group (THG) is planning to build an integrated ferronickel complex in North Kalimantan, Indonesia. The project requires the construction of a ferronickel smelter with a capacity of 1.5MTPA, a stainless steel production facility with a capacity of 2MTPA, a carbon steel production facility with a capacity of 10MTPA, a ferromanganese production facility with a capacity of 500,000TPA, a ferrosilicon production facility with a capacity of 200,000TPA, an aluminium production facility with a capacity of 1MTPA, a ferrochrome production facility with 1.2MTPA, and a 5,000MW hydroelectric power plant, which will supply power to the complex, as well as the installation of machinery and equipment, safety and security systems.
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