Power Industry Leads North Carolina in Third-Quarter Project Completions

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Researched by Industrial Info Resources (Sugar Land, Texas)--North Carolina expects to see 82 project completions worth a total of $1.87 billion in the third quarter of this year. As with many other states, the Power Industry is the leader in project spending, with seven projects with an overall total investment value of $840 million. Other significant industries include Industrial Manufacturing, Alternative Fuels and Pharmaceutical & Biotech.

Click on image at right for a chart detailing third-quarter 2016 kickoffs in North Carolina, by industry

The largest Power Industry project is the $416 million grassroot Desert Wind windfarm in Elizabeth City. The plant is owned by Avangrid Renewables, a unit of Avangrid Incorporated (NYSE:AGR) (New Haven, Connecticut). The windfarm, with a capacity of 208 megawatts (MW), began construction last August.

The Industrial Manufacturing Industry has 28 completions worth $221 million set for this quarter. Wilmington is home to the largest, which is a $35 million grassroot fuel pellet export terminal owned by Enviva LP (NYSE:EVA) (Bethesda, Maryland). The project involves constructing a bulk marine terminal to handle wood pellet loading for the distribution of 865,000 tons of fuel pellets a year to overseas markets. The project is slated for completion by the end of next month.

Another Enviva project is the $214 million grassroot fuel pellet mill in Clinton. This Alternative Fuels project is designed to process wood waste into 515,000 tons a year of wood fuel pellets. The project started in October 2014 and will see completion this month.

The Pharmaceutical and Biotech Industry has 14 completions worth $202 million. The biggest one is the $57 million grassroot Durham Cancer & Infectious Disease Therapeutics plant in Research Triangle Park. The 97,900-square-foot building will be constructed on 11 acres. Beginning construction October 2014, the facility is expected to be completed last month. Argos Therapeutics Incorporated (NASDAQ:ARGS) (Durham, North Carolina) is the owner of the project.

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