As the new year kicks off, Industrial Info Resources is tracking 7,760 projects with a combined total investment value $575.8 billion that are planned to kick off in 2014 in North America. This compares to about $480 billion that were planned to kick off in 2013 at this time in 2012. And while not all of this project activity will actually take place due to project fallout, Industrial Info says the higher anticipated dollar amount between years is quite substantial.
Industrial Info says some of the largest of these projects are for construction of liquefied natural gas (LNG) production and export terminals along the U.S. Gulf Coast and large hydropower and mining (metals and oil sands) projects in Canada. By far the highest-value project set to kick off in 2014 is Gulf Coast LNG Export LLC's four-train LNG production and export terminal at the Port of Brownsville in Texas. The project, which has a total investment value of $8.5 billion is expected to kick off in mid-2014, with completion set for 2018.
While more than $52 billion of oil sands-related projects are planned to kick off in Canada next year, Industrial Info says the country also has a very strong hydropower industry, with approximately $17.7 billion in hydro projects set to kick off in 2014–more than 10 times the $1.7 billion of hydropower projects planned to begin construction in the U.S.
To read Industrial Info's full report on this story, go here.