Industrial Info Reports More Than $1.8 Billion in Chemical Project Activity in U.S., Canada in January

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Researched by Industrial Info Resources (Sugar Land, Texas)--The total investment value (TIV) of capital and maintenance project reports researched and released by Industrial Info during January exceeded $1.8 billion. These investments represent 83 projects scheduled at 65 plants in 26 states and provinces across the United States and Canada. Although Texas and Louisiana enjoyed the largest number of projects, as they generally do each month, some of the largest single investments were identified in South Carolina and British Columbia.

In looking at the new report activity of January in closer detail, 50 maintenance turnaround projects were reported with a TIV of $158 million. These planned turnarounds equal a tremendous opportunity for equipment and service providers capable of mobilizing people or equipment for plant downtimes and repairs that sometimes only occur once every few years. The most significant results for January was the number of new projects reported that have already been capitally funded or approved and currently in some phase of engineering or nearing construction. At least 16 projects fit this category with a TIV exceeding $1.2 billion.

More than $500 million of the activity reported in January represented investments in polymers, plastics and the petrochemical sectors of the Chemical Processing Industry (CPI). These are the segments you would hope to see the largest investments in as they generally influence a great deal of spending or industry confidence elsewhere in the CPI. A nearly equal amount of activity was identified for the fibers sector of the industry, although most of it related to one project, DuPont's Kevlar unit addition at its Moncks Corner, South Carolina, plant.

In addition to the project reports produced last month, 196 previously reported projects were updated during the month, representing total investments of nearly $3.2 billion. A total of $1.9 billion or 68 projects remained active with plans for construction. More than 100 projects were identified as completed with a combined TIV of $685 million. At least four projects were discovered to be on-hold indefinitely with a combined value of $362 million.

For details on projects mentioned in this article contact Industrial Info's Member Center at 1-800-762-3361.

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Industrial Info Resources (IIR) is the leading marketing information services company for the industrial process, heavy manufacturing and energy-related markets throughout the world. Celebrating its 25th anniversary, IIR provides accurate and timely intelligence featuring plant and project information databases, focused market databases, industry forecasting, key industry contacts, industry and territorial map products, direct marketing services and applications, and daily industry news.