Weekly Briefing EFCG's summary of this week's news across the A/E/C industry |
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13th Annual EFCG HR Leadership Conference & International HR Day |
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| EFCG hosted the 13th Annual HR Leadership Conference in Denver, Colorado, on May 16 – 17, 2022. The Conference brought together HR leaders from firms across the A/E/C industry to discuss key topics and trends, such as Talent Management, Recruitment & Development, Health & Well-being, Compensation, DEI Strategies, Hybrid Operations, and Maximizing the C-Suite Partnership Relationship. EFCG would like to thank everyone who attended this year's HR Leadership Conference (both in-person and virtually), as well as all our sponsor, CareerSmith, for their continued partnership! EFCG would also like to commemorate and recognize all HR professionals in celebration of International Human Resources Day. We thank you for your dedication and contributions to individuals and organizations across all industries! |
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China's Pullback on Lending Stalls Dreams of Rebuilding Nigeria - With more than $25 billion worth of projects either far behind schedule or yet to start, Nigerian President, Muhammadu Buhari, may be forced to temper his aspirations of transforming the country's critical infrastructure due to Beijing's waning appetite for costly public works abroad.
- Like many developing countries, Nigeria turned to loans from Chinese state-owned banks to finance major public works projects, with project-specific lending from the Export-Import Bank of China totaling $3.6 billion, according to data published in December by the nation's Debt Management Office.
- The public and private sectors need to spend $2.3 trillion over 23 years to tackle the country's infrastructure deficit, with the heaviest allocations directed toward transport and energy, according to a finance ministry report published in late 2020.
- Speaking at the eighth triennial Forum on China-Africa Cooperation in October, Chinese President Xi Jinping announced that China would reduce its financial pledge to the world's least industrialized continent, decreasing a third from the $60 billion committed in 2018.
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Boston Mayor Announces $2 Billion Green New Deal for Boston Public Schools - In an effort to fix the longstanding woes of the city's beleaguered school system, Boston Mayor Michelle Wu announced that the city would invest more than $2 billion as part of a Green New Deal for Boston Public Schools.
- Wu laid out the plan to overhaul facilities in the district, including new construction and renovation projects which will be kickstarted by a $605 million investment in the FY23-27 Capital Plan to launch 14 significant new projects.
- The announced Green New Deal also includes plans to create a new, cross-departmental team with leadership from Boston Public Schools and City Hall to ensure students have access to quality facilities.
- The Green New Deal intends to accelerate work to decarbonize the city's building sector since Boston Public School facilities make up nearly half of city-owned building emissions.
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May 16, 2022 Global Infrastructure Solutions Inc. (GISI), a California-based engineering and construction company focused on partnering with companies to provide long-term capital, optimize synergies, and embrace employee ownership to create value, has merged with GEI Consultants, Inc. (GEI), a Massachusetts-based consulting engineering and environmental firm providing water resources, environmental, ecological, geotechnical, and coastal engineering services. The merger advances both companies' shared strategy for broader employee ownership and professional growth in the construction management, engineering, and environmental industries. Similar to GISI's previous mergers, GEI will retain its brand and provide the opportunity for all GEI employees to become shareholders. Rick Newman, GISI's President and CEO, said, "The merger with GEI advances GISI's Global Engineering and Consulting Platform and complements the services and successful growth of GISI's other operating companies." |
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May 16, 2022 SOCOTEC Group (SOCOTEC), a United Kingdom-based provider of testing, inspection, and certification (TIC) in the construction, infrastructure, and environment sectors, has acquired Base Quantum Ltd (Base Quantum), a United Kingdom-based quantity surveying, dispute resolution, and expert witness consultancy that identifies, analyses and manages the risks that are inherent in any significant construction, renovation or maintenance project in the construction, real estate, infrastructure, and environment sectors. The acquisition of Base Quantum expands SOCOTEC's current capabilities by offering a combination of engineering, quantified risk analysis, and expert witnesses for litigation matters. Base Quantum's Expert Witnesses are instructed by law firms throughout the UK and globally in litigation, arbitration, and other dispute resolution for participants in the construction process, including international contractors, government institutions, insurance companies, investors, developers, and major groups in the construction and infrastructure sectors. |
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May 18, 2022 CDR Maguire, Inc. (CDR Maguire), a Florida-based consulting engineering services firm specializing in engineering consulting services, emergency management solutions, and disaster health and medical services, has acquired Evolution Engineering Consultants, Inc. (EEC), a Florida-based Construction Engineering & Inspection Services Firm (CEI) providing Construction Management Oversight and Materials Testing on Heavy Civil projects to ensure they are built in compliance with design plans, specifications, and state/federal regulations. The acquisition of EEC, which is also an FDOT Prequalified firm, will expand CDR Maguire's operating footprint in the Florida market, and enhance its engineering capabilities, particularly for FDOT and Turnpike clients. H. Daniel Cessna, P.E., President of CDR Maguire's Engineering Division, stated, "We are pleased to have Scott Case join our team as Senior Vice President, bringing 27 years of experience in design, construction, and project management of large-scale transportation projects. Scott is a well-known project manager and key leader in the Florida market, with a track record of attracting the best talent and pursuing significant projects." |
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About EFCG We are uniquely positioned with 30+ years proprietary industry data from 500+ private & public firms. We are proud to be the trusted advisor to the A/E/C industry. |
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| | | This Week's Briefing by: Clay Han chan@efcg.com |
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© 2022 Environmental Financial Consulting Group, LLC. All Rights Reserved. |
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