Polysilicon and Steel Manufacturing Companies Lead Metals & Minerals Industry Project Spending List for 2008

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Researched by Industrial Info Resources (Sugar Land, Texas)--Accounting for almost $8.5 billion in current or planned project spending in the U.S., the top 10 Metals & Minerals Industry companies for 2008 includes polysilicon manufacturers, steel manufacturers, metallurgical coke producers, mining companies and cement manufacturers. The list identifies the top 10 companies in terms of project spending based on the total investment value (TIV) of projects under construction or projects that are scheduled to begin construction during 2008.

Click on the image at right to view the Top 10 Metals & Minerals Industry Companies for 2008.

REC ASA Group (Oslo, Norway), for example, the No. 1 company on the list, has $2 billion in projects underway in one form or another. REC Silicon is constructing an $800 million expansion in Moses Lake, Washington, that will double the capacity of polysilicon production there. Flour Corporation (NYSE:FLR) (Irving, Texas) is handling engineering and construction. Originally scheduled to be complete by the third quarter of 2008, weather and material delivery problems have delayed construction completion until the end of the year. Cost overruns, caused in part by worldwide demand for materials, equipment and shop time have escalated the cost of the expansion from $600 million to $800 million. In addition, REC is studying sites including Wallula, Washington; Decatur, Alabama; Quebec; and Iceland for a $1.2 billion grassroot polysilicon manufacturing plant. Site selection is scheduled soon. With construction of these new facilities REC is hoping to take advantage of the upswing in polysilicon demand worldwide. Also on the top 10 list is polysilicon producer Dow Corning, which is planning to start construction late this year on a $1 billion expansion at its plant in Hemlock, Michigan.

After polysilicon, the steel industry has the second largest showing with three steel manufacturing companies planning expenditures exceeding $3 billion. This includes major capital projects and maintenance shutdown work for U.S. Steel (NYSE:X) (Pittsburgh, Pennsylvania) and Steel Dynamics (NASDAQ:STLD) (Fort Wayne, Indiana) and newcomer Minnesota, which has started site work for a grassroot integrated iron mine and steel making complex in Minnesota. Also steel related, metallurgical coke producer Sun Coke Company made the list with $614 million worth of projects.

Rounding out the list are mining firms Barrick Gold Corporation (NYSE:ABX) , and Freeport-McMoRan Copper & Gold Incorporated (NYSE:FCX) (Golden, Colorado) and cement manufacturers California Portland Cement (Glendora, California) and Lafarge North America Incorporated (Herndon, Virginia).

Industrial Info Resources (IIR) is a marketing information service specializing in industrial process, energy and financial related markets with products and services ranging from industry news, analytics, forecasting, plant and project databases, as well as multimedia services.