Lithuanian construction industry revenue contracted 3.5% last year, to total €2.5 billion, Verslo Žinios reports.
The contraction is largely down to fewer large-scale public contracts, which is why construction companies focusing on government projects took the hardest hit.
Mitnija CEO Julius Gendvilis tells Verslo Žinios that the company’s revenue contracted 29% in 2015, year-on-year.
He says that the government did not issue calls for tenders for construction and infrastructural projects because of the start of the new EU financing period 2014-2020.
Meanwhile some companies focusing on the private sector reported growth.
Merko Statyba, owned by the Estonian concern Merko Ehitus, banked €28.4 million last year, or 2.5 times more than in 2014. The company’s head Saulius Putrimas says it is down to its policy to work exclusively with the private sector.