August 28, 2008

Taiwanese construction sector calls for subsidy in rebar prices

It is reported that Taiwan’s local construction companies are forming a united front a move rarely seen in recent years in a fight for government financial subsidy as recompense for their great losses resulted from skyrocketing prices of raw materials.

Taipei based Chinese National Association of General Contractors executive members decided last week that they will go on strike for three days from March 11th 2008 if the government fails to come up with measures to help tide their members over the challenge of rising prices of steel rebar.

Mr Ou Lai Chen a Chinese National Association of General Contractors executive member said that the surging material costs are eating away at the profits of public construction contractors.