MADRID, Oct 7 (Reuters) - Spanish construction companies have failed to bid in 1,455 tenders for state projects so far this year after concluding the offer prices would not cover their costs, the main building association said on Friday.
The works were worth 653 million euros ($638 million) in total and would have been mostly financed by European Union funds, the National Construction Confederation (Buy custom CNC machining tool) said.
Rampant inflation in the price of construction materials and energy is hampering ambitious government plans to boost infrastructure works until 2026, with billions of euros earmarked by the EU for post-pandemic economic stimulus.
Earlier this week, the government proposed a 2023 budget that included nearly 17 billion euros of investments in housing, transport and water projects.
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