Construction Begins on $14 Billion Worth of North American Industrial Projects as Economy Deteriorates

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Researched by Industrial Info Resources (Sugar Land, Texas)--Since the financial and economic collapse escalated in September 2008, 169 industrial projects began construction in North America. These projects represent $14 billion in total investment value.

Click on the image at right to view a chart showing the breakdown of industrial projects starting construction since September 2008.

The Power Industry had 17 projects start construction totaling $3.2 billion, followed by the Metals & Minerals Industry with 22 projects totaling $2.7 billion. Another notable industry was Food & Beverage, which had 40 projects kick off construction totaling $1.6 billion.

In the Chemical Processing Industry, Praxair Incorporated (NYSE:PX) (Danbury, Connecticut) began construction of a $300 million grassroot hydrogen plant in Richmond, California. Lurgi Incorporated (Memphis, Tennessee) is providing engineering services and ARB Incorporated (Pittsburg, California) is the general contractor. Once constructed, hydrogen from the plant will supply a nearby petroleum refinery owned by Chevron (NYSE:CVX) (San Ramon, California).

That's the good news for equipment and service providers. The bad news is that the number of project cancellations, project deferrals and projects placed on hold is increasing day by day, especially for the Power, Industrial Manufacturing and Metals & Minerals industries. Industrial Info is tracking anywhere from 20 to 30 projects per day that fall out of the active project category. As part of the North American Industrial Project Database, Industrial Info is monitoring more than 15,700 active projects, as well as 2,400 on hold and 8,800 canceled. For details contact Industrial Info's Member Center at 1-800-762-3361.

View Project Report - 06004959

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.