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Released February 17, 2015 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--The U.S. Rocky Mountains region is expected to see $31.53 billion in projects kick off in 2015, according to Industrial Info's database, driven by a strong push for renewable energy, especially solar and wind power; the construction of a major substation in New Mexico; and the growing presence of the pipeline market, which has not abated amid a plunge in commodity prices. More than 75% of the total is attributed to three industries: Power, Metals & Minerals, and Oil & Gas Pipelines.
Click on the image at right for a graph detailing planned 2015 project kickoffs in the Rocky Mountains region by industry.
The Rocky Mountains region includes Arizona, Colorado, Idaho, Montana, New Mexico, Nevada, Utah and Wyoming.
With $16.24 billion in projects expected to kick off during the year, the Power Industry alone makes up a little more than half of the region's 2015 TIV. The largest of its many projects is AltEnergy LLC's (Alden, Iowa) $1.9 billion construction of the Tres Amigas Substation in Clovis, New Mexico. The three-phase project involves building a 5-gigawatt (GW) HVDC-to-AC transmission substation and connecting the Western, Eastern and ERCOT (Energy Reliability Council of Texas) transmission grids to improve reliability in the U.S. electrical grid. Civil site construction is expected to kick off in the second quarter.
The Power Industry also is expected to see $5.7 billion and $4.98 billion in solar and wind-powered projects kick off during the year, respectively, in the Rocky Mountains region.
The Metals & Minerals Industry has more than $5 billion in projects ready to kick off in 2015, almost one-fourth of which is attributed to a single project: General Moly Incorporated's (Lakewood, Colorado) $1.19 billion construction of the Mount Hope molybdenum mine in Eureka, Nevada. The facility is planned to feature a 65 million-ton-per-year open pit mining operation and a 60,000-ton-per-day processing plant that will process 24 million tons per year of molybdenite sulfide ores over a 34-year mine life. The project is expected to kick off in the second quarter. For more on the industry's outlook for 2015, see February 10, 2015, article - North American Metals & Minerals Industry Eyes $57 Billion in Project Starts in 2015.
The Oil & Gas Pipelines Industry is in third place with almost $2.4 billion in projects set to kick off during the year, including Rimrock Midstream LLC's (Plano, Texas) $320 million construction of a crude oil pump station in Lucerne, Colorado. The project, which is part of the Grand Mesa Pipeline project, involves building roughly 550 miles of 16-inch- or 20-inch-diameter pipe to transport about 130,000 barrels per day of DJ Basin/Wattenburg crude oil from Weld County, Colorado, to NGL Energy Partners LP's (NYSE:NGL) (Tulsa, Oklahoma) crude oil terminal in Cushing, Oklahoma. The project is expected to kick off in the second quarter. For more on the Grand Mesa Pipeline project, see November 12, 2014, article - Colorado-to-Cushing Thoroughfare Becomes Popular for Crude Oil Projects.
The Petroleum Refining Industry is the largest of the remaining industries, with $2.28 billion in projects readying for construction. One of the largest is Quantum Energy Incorporated's (Oklahoma City, Oklahoma) $500 million construction of a hydro-skimming refinery in Baker, Montana. As planned, the 20,000-barrel-per-day facility will refine crude oil from the Bakken Shale into ultra-low sulfur diesel for local markets. The project is expected to kick off in the third quarter.
More than 77% of the $31.53 billion total investment value for projects expected to kick off in the Rocky Mountains region in 2015--almost $25 billion--is attached to projects currently in the planning stages, where plenty of factors could increase, decrease or totally eliminate the expected spending. More than $5.3 billion worth of projects are in the engineering stages, while $1.74 billion worth already are in the early construction stages.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
Click on the image at right for a graph detailing planned 2015 project kickoffs in the Rocky Mountains region by industry.The Rocky Mountains region includes Arizona, Colorado, Idaho, Montana, New Mexico, Nevada, Utah and Wyoming.
With $16.24 billion in projects expected to kick off during the year, the Power Industry alone makes up a little more than half of the region's 2015 TIV. The largest of its many projects is AltEnergy LLC's (Alden, Iowa) $1.9 billion construction of the Tres Amigas Substation in Clovis, New Mexico. The three-phase project involves building a 5-gigawatt (GW) HVDC-to-AC transmission substation and connecting the Western, Eastern and ERCOT (Energy Reliability Council of Texas) transmission grids to improve reliability in the U.S. electrical grid. Civil site construction is expected to kick off in the second quarter.
The Power Industry also is expected to see $5.7 billion and $4.98 billion in solar and wind-powered projects kick off during the year, respectively, in the Rocky Mountains region.
The Metals & Minerals Industry has more than $5 billion in projects ready to kick off in 2015, almost one-fourth of which is attributed to a single project: General Moly Incorporated's (Lakewood, Colorado) $1.19 billion construction of the Mount Hope molybdenum mine in Eureka, Nevada. The facility is planned to feature a 65 million-ton-per-year open pit mining operation and a 60,000-ton-per-day processing plant that will process 24 million tons per year of molybdenite sulfide ores over a 34-year mine life. The project is expected to kick off in the second quarter. For more on the industry's outlook for 2015, see February 10, 2015, article - North American Metals & Minerals Industry Eyes $57 Billion in Project Starts in 2015.
The Oil & Gas Pipelines Industry is in third place with almost $2.4 billion in projects set to kick off during the year, including Rimrock Midstream LLC's (Plano, Texas) $320 million construction of a crude oil pump station in Lucerne, Colorado. The project, which is part of the Grand Mesa Pipeline project, involves building roughly 550 miles of 16-inch- or 20-inch-diameter pipe to transport about 130,000 barrels per day of DJ Basin/Wattenburg crude oil from Weld County, Colorado, to NGL Energy Partners LP's (NYSE:NGL) (Tulsa, Oklahoma) crude oil terminal in Cushing, Oklahoma. The project is expected to kick off in the second quarter. For more on the Grand Mesa Pipeline project, see November 12, 2014, article - Colorado-to-Cushing Thoroughfare Becomes Popular for Crude Oil Projects.
The Petroleum Refining Industry is the largest of the remaining industries, with $2.28 billion in projects readying for construction. One of the largest is Quantum Energy Incorporated's (Oklahoma City, Oklahoma) $500 million construction of a hydro-skimming refinery in Baker, Montana. As planned, the 20,000-barrel-per-day facility will refine crude oil from the Bakken Shale into ultra-low sulfur diesel for local markets. The project is expected to kick off in the third quarter.
More than 77% of the $31.53 billion total investment value for projects expected to kick off in the Rocky Mountains region in 2015--almost $25 billion--is attached to projects currently in the planning stages, where plenty of factors could increase, decrease or totally eliminate the expected spending. More than $5.3 billion worth of projects are in the engineering stages, while $1.74 billion worth already are in the early construction stages.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
