Energy Projects Continue to Push Alberta Industrial Spending to New Heights

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Researched by Industrial Info Resources (Sugar Land, Texas)--Alberta remains a hot spot for industrial construction projects in 2008. Since the beginning of the year, Industrial Info has reported 122 projects totaling more than $39 billion in total investment value, making Alberta the most active state or province in North America for reported industrial project activity in 2008.

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

Not surprisingly, the majority of the projects are energy related, mainly dealing with oil sands development. For example, there are 65 Oil & Gas Production Industry projects worth $28.6 billion. A good majority of these are bitumen processing plant construction projects for companies like Husky Energy Incorporated (TSX: HSE) (Calgary, Alberta); Nexen Incorporated (NYSE: NXY) (Calgary); Shell Canada Limited, the Canadian operating arm of Royal Dutch Shell (NYSE: RDS.A) (The Hague, The Netherlands); and StatoilHydro Canada Limited (Calgary), the Canadian business unit of StatoilHydro ASA (NYSE: STO) (Stavanger, Norway). There is also $4 billion worth of Power Industry projects, $3.2 billion Petroleum Refining Industry projects, $1.5 billion worth of Metals & Minerals Industry projects and $1.5 billion worth of Oil & Gas Transmission Industry projects.

TransCanada PipeLines Limited (NYSE: TRP) (Calgary) has begun construction on the $225 million Alberta portion of the Keystone Crude Oil Pipeline project. One of the many projects proposed to transport Alberta's crude oil to southern and eastern destinations, the Alberta portion of the Keystone Pipeline project involves the construction of 161.5 miles of 30-inch-diameter oil transmission pipeline from Hardisty to the Alberta-Saskatchewan border near Empress, Alberta. The project is designed to move 435,000 barrels per day of crude oil. Four electric drive pump stations will be constructed along the route. Cimarron Engineering Limited (Calgary, Alberta) is providing engineering services. Ledcor Group of Companies (Edmonton, Alberta) is the general contractor on the job. Project completion is scheduled for spring 2008.

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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.