Canada's Resource Sector Pushing $50 Billion in Industrial Project Starts in 2010

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Researched by Industrial Info Resources (Sugar Land, Texas)--Planned industrial projects starts in Canada in 2010 are in line to far outpace 2009, according to Industrial Info's North American Industrial Project Spending Index. The index is currently showing 55% growth year over year for industrial project starts in Canada. Led by significant resource sector activity in the form of oil sands and mining projects in Western Canada and Ontario, more than $50 billion worth of projects are on the books to begin construction in 2010.

Click on the image at right to view a chart showing the breakdown of planned projects starts in 2010 by industry.

The Metals & Minerals Industry leads all industries in Canada with more than $18 billion in planned project startsin 2010. Metals & Minerals is followed by the Power Industry and the Oil & Gas Production Industry both with $11 billion each.

More than 700 projects are currently scheduled to begin construction in 2010. This includes about 90 projects totaling more than $7 billion that have already started construction this year. Projects include oil sands-related production and infrastructure, and mining projects such as new potash mines, as well as Power Industry projects including numerous windfarm construction projects. St. Joseph Windfarms Incorporated (Calgary, Alberta), a subsidiary of Pattern Energy Group LP (San Francisco, California), began construction earlier this year on the $300 million first phase of a 138-megawatt windfarm being erected near Altona, Manitoba. MA Mortenson Company (Minneapolis, Minnesota) is the engineering and construction firm for the project.

Maple Leaf Foods Incorporated (TSX:MFI) (Mississauga, Ontario) has begun construction of a new bakery in the North Glanbrook Industrial Park in Hamilton, Ontario. The new $100 million, 375,000-square-foot bakery will allow for the relocation and consolidation of Maple Leaf Foods' bread-baking operations in Hamilton, Ontario.

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