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Released March 26, 2015 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--The collapse of oil prices has hammered Western Canada's oil sands industry, which traditionally has dominated project spending in the region. Nonetheless, other industries are picking up the spending slack, with more than $8.6 billion in projects set to begin construction in Western Canada in the second quarter of 2015, according to Industrial Info's Project Database. Just less than 75% of the total can be attributed to four industries: Metals & Minerals, Power, Petroleum Refining and Terminals.
Click on the image at right for a graph detailing planned second-quarter 2015 project kickoffs in the Western Canadian region by industry.
The Western Canadian region includes the provinces of Alberta, British Columbia, Manitoba and Saskatchewan, and the Northwest, Nunavut and Yukon territories.
Not surprisingly for the region, the Metals & Minerals Industry dominates with $2.53 billion in projects set to begin construction in the second quarter. The largest of these is Pretium Resources Incorporated's (TSX:PVG) (Vancouver, British Columbia) $746.9 million construction of the Brucejack gold and silver mine near Stewart, British Columbia. Over an 18-year life, the longhole-stoping underground mine, which will feature a 2,700-ton-per-day gravity-flotation processing plant, will produce 404,000 ounces per year of gold and 1.5 million ounces per year of silver from 917,000 tons per year of ore resources. AMEC Foster Wheeler (NYSE:AMFW) (London, England) is performing engineering, procurement and construction (EPC) services on the project, which is set to be completed in the third quarter of 2017.
The Power Industry is in a solid second place, with more than $1.7 billion in projects set to kick off in the second quarter, including NaturEner Energy Canada Incorporated's (Calgary, Alberta) $420 million construction of the first phase of the Wild Rose Windfarm in Irvine, Alberta. The project involves building 70 Alstom ECO 110 wind turbine generators, each with a capacity of 3 megawatts (MW), and balance-of-plant equipment. Borea Construction (Quebec City, Quebec) is performing EPC services for the project, which is expected to be completed in third-quarter 2016. In a $400 million second phase, the company plans to build another 63 such turbines.
The Petroleum Refining Industry takes the bronze medal with about $1.25 billion in projects readying to begin construction, clearly dominated by a single, $1 billion project in Alberta. North West Redwater Partnership (Calgary), which is owned by North West Upgrading Incorporated and Canadian Natural Upgrading Limited, a subsidiary of Canadian Natural Resources Limited (TSX:CNQ) (Calgary), is building a residual hydrocracker unit as part of a three-phase, $8 Billion upgrader project. Fluor Canada Limited (Calgary), a subsidiary of Fluor Corporation (NYSE:FLR) (Irving, Texas), is performing EPC services for the project, which is expected to be completed in third-quarter 2017.
The Terminals Industry has a solid $908 million in projects set to kick off construction in Western Canada in the second quarter, led by Kinder Morgan Incorporated's (NYSE:KMI) (KMI) (Houston) $300 million construction of the Edmonton Crude Oil Terminal in Sherwood Park, Alberta. The company will add 3 million barrels of crude oil storage to support a series of expansions, with tanks sizes ranging from 300,000 to 400,000 barrels each. The first phase added 2.4 million barrels starting in 2012; a third phase is expected to add about as much as the second phase. The project is expected to be completed in fourth-quarter 2016.
Of the $8.61 billion in total investment value for projects expected to kick off in the Western Canadian region in the second quarter, a little more than half--$4.33 billion worth--are in the planning stages, where plenty of factors still could increase, decrease or totally eliminate the expected spending. About $2.77 billion is attached to projects currently in the engineering stages, while roughly $1.51 billion worth already are in the early construction stages.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
Click on the image at right for a graph detailing planned second-quarter 2015 project kickoffs in the Western Canadian region by industry.The Western Canadian region includes the provinces of Alberta, British Columbia, Manitoba and Saskatchewan, and the Northwest, Nunavut and Yukon territories.
Not surprisingly for the region, the Metals & Minerals Industry dominates with $2.53 billion in projects set to begin construction in the second quarter. The largest of these is Pretium Resources Incorporated's (TSX:PVG) (Vancouver, British Columbia) $746.9 million construction of the Brucejack gold and silver mine near Stewart, British Columbia. Over an 18-year life, the longhole-stoping underground mine, which will feature a 2,700-ton-per-day gravity-flotation processing plant, will produce 404,000 ounces per year of gold and 1.5 million ounces per year of silver from 917,000 tons per year of ore resources. AMEC Foster Wheeler (NYSE:AMFW) (London, England) is performing engineering, procurement and construction (EPC) services on the project, which is set to be completed in the third quarter of 2017.
The Power Industry is in a solid second place, with more than $1.7 billion in projects set to kick off in the second quarter, including NaturEner Energy Canada Incorporated's (Calgary, Alberta) $420 million construction of the first phase of the Wild Rose Windfarm in Irvine, Alberta. The project involves building 70 Alstom ECO 110 wind turbine generators, each with a capacity of 3 megawatts (MW), and balance-of-plant equipment. Borea Construction (Quebec City, Quebec) is performing EPC services for the project, which is expected to be completed in third-quarter 2016. In a $400 million second phase, the company plans to build another 63 such turbines.
The Petroleum Refining Industry takes the bronze medal with about $1.25 billion in projects readying to begin construction, clearly dominated by a single, $1 billion project in Alberta. North West Redwater Partnership (Calgary), which is owned by North West Upgrading Incorporated and Canadian Natural Upgrading Limited, a subsidiary of Canadian Natural Resources Limited (TSX:CNQ) (Calgary), is building a residual hydrocracker unit as part of a three-phase, $8 Billion upgrader project. Fluor Canada Limited (Calgary), a subsidiary of Fluor Corporation (NYSE:FLR) (Irving, Texas), is performing EPC services for the project, which is expected to be completed in third-quarter 2017.
The Terminals Industry has a solid $908 million in projects set to kick off construction in Western Canada in the second quarter, led by Kinder Morgan Incorporated's (NYSE:KMI) (KMI) (Houston) $300 million construction of the Edmonton Crude Oil Terminal in Sherwood Park, Alberta. The company will add 3 million barrels of crude oil storage to support a series of expansions, with tanks sizes ranging from 300,000 to 400,000 barrels each. The first phase added 2.4 million barrels starting in 2012; a third phase is expected to add about as much as the second phase. The project is expected to be completed in fourth-quarter 2016.
Of the $8.61 billion in total investment value for projects expected to kick off in the Western Canadian region in the second quarter, a little more than half--$4.33 billion worth--are in the planning stages, where plenty of factors still could increase, decrease or totally eliminate the expected spending. About $2.77 billion is attached to projects currently in the engineering stages, while roughly $1.51 billion worth already are in the early construction stages.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
