Western Canada Witnesses Increase in Chemical Industry Spend for 2016

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Researched by Industrial Info Resources (Sugar Land, Texas)--Chemical Industry spending in the provinces of Western Canada, consisting of Alberta, British Columbia, Manitoba and Saskatchewan, has greatly increased compared with last year. These provinces are home to some of the country's largest chemical and petrochemical complexes. Industrial Info is tracking 39 active projects in Western Canada with plans to begin construction this year, totaling an estimated $221 million in capital and maintenance spending.

In 2015, the industry spent only $60 million, and three projects began construction for the entire calendar year. This year, that number is set to spike in both projects and total spending. Many of the projects set to begin construction this year are part of maintenance budgets, with 27 turnarounds and a total investment value (TIV) of almost $80 million.

The largest of the chemical projects expected to kick off this year is for the phosphogypsum stack extension, to be built at Agrium Incorporated's (NYSE:AGU) (Calgary) Redwater, Alberta plant. The plant produces nitrogen, phosphate, potash and sulfate-based products and is among the largest producers of its type in Canada. This $50 million project will extend the current 720-acre gypsum stack by an additional 200-240 acres. Construction is slated for April, with anticipated completion this fall.

CF Industries Holdings Incorporated (NYSE:CF) (Deerfield, Illinois) is planning a large project in Medicine Hat, Alberta. It will perform a $30 million ammonia reformer reharp during its maintenance turnaround this summer.

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